Bunge to sell bakery business for $76 million
December 4, 2003
Dow Jones Business News reports that Bunge Ltd.''s North America unit signed a definitive agreement to sell its bakery business to Dawn Food Products Inc., Jackson, Mich., for $76 million. In a press release Tuesday, agribusiness and food-processing company Bunge said the sale, which includes assets that produce mixes, frozen dough, syrups and toppings, allows it to focus on its edible-oil business. Bunge''s bakery-mix-related assets in Seattle, Bradley, Ill. and Modesto, Calif. and frozen bakeries in Mexico, Missouri and Tustin and Modesto, Calif., are included in the sale. The company''s syrups and toppings plant in Seattle and the bakery research and development facilities in Seattle and St. Louis are also included. The deal awaits regulatory approvals, but the companies expect to close the transaction by Dec. 31.