Downers Grove-based Sara Lee Corp. announced on Friday its plans to sell its personal care unit to Unilever for $1.88 billion.

Sara Lee said it planned to sell its personal care unit so that it could concentrate on its main businesses food and beverages.

Brenda Barnes, chief executive of Sara Lee, said, "We are very excited about this deal."

On the other hand it was the biggest deal for Unilever since 2000, when it acquired Ben & Jerry's in a deal worth $326 million.

Anglo-Dutch consumer products producer, Unilever, is famous for its brands such as Axe deodorant and Dove soap.

Sara Lee declared that it would maintain an eleven per cent dividend for the next four quarters.

The two companies are expecting the deal to be closed next year.

The announcement pushed the shares in Sara Lee up by 6.4 per cent to $11.21.