Kraft sells Brazilian dairy

BRAZIL/ITALY – Kraft Foods is to sell its dairy business in Brazil to Italian company Parmalat for an undisclosed sum.

The sale, which should be finalised by the end of November, includes the Gloria (powder and condensed milk) and Avare (flavoured milk) brands and manufacturing facilities in Cerqueira Cesar, Itaperuna and Jaragua do Sul.

The dairy employes 600 people and reached sales of US$63 million (69m euro) in 2000.

Group vice president Joachim Krawczyk said that despite the sale, the company remained committed to the country. “The sale of the Gloria business will enable us to focus on the growth of our core ca