SOS Cuetara Sells Biscuit division To Nutrexpa

Spanish food group SOS Cuetara has agreed to sell its biscuit division to Grupo Nutrexpa in a deal valued at EUR215mn (US$292mn). SOS had originally been hoping to achieve a sale price of around EUR300mn and the lower valuation is likely to reflect the depressed market conditions and the difficulties that firms are facing when attempting to raise new debt. SOS will now focus on its rice and oil division, which it believes offer greater global opportunities, while Grupo Nutrexpa will look to use its brand-building expertise to drive sales at its new

To read the full article, please choose one of the following options: