Chicago-based manufacturer of brand-name products Sara Lee Corporation has entered into a purchase agreement for the sale of its UK-based Courtaulds apparel business to a group led by global garment company PD Enterprise Ltd.

Completion is subject to customary conditions and is expected to occur by July 1. 

Sara Lee’s interests in three Sri Lankan joint ventures that supply a portion of Courtaulds’ inventory were not included in this sale and may be sold at a later date.

Sara Lee Courtaulds, which manufactures private-label clothing for retailers, generated nearly $560 million in sales during fiscal 2005.

PD Enterprise operates nine facilities that produce more than 120 million garments annually. Its products include underwear, swim and beachwear, and casualwear.