Dutch food group Numico has sold off another of its non-core operations, days after the divestment of US direct marketing unit Unicity.
The Brazilian dairy business Mococa has been bought by Kremon do Brasil, a Brazilian producer of food and cleaning products. The transaction price was not disclosed.
Mococa generated approximately €40 million in sales in 2002 but made operating losses. Numico will retain Mococa's cereal brands and cereal operations, which generated around €15 million in sales and contributed positively to 2002 earnings.
Numico is gaining momentum in its strategy to divest loss-making operations, with two of the biggest units, Rexall and Unicity, now under new ownership. Unicity Network has been bought out by a group of its management executives. Terms of the deal were not disclosed, although Numico said it would result in a cash gain of €20 million. The firm is aiming to concentrate on growing its baby food and clinical nutrition activities.