Kewpie Sells Out U.S. Egg-Processing Unit

Economy

Tokyo, July 2 (Jiji Press)--Major Japanese food maker Kewpie Corp. <2809> said Thursday that it has sold all shares in fully owned U.S. egg-processing unit Henningsen Foods Inc. to Michael Foods of Delaware Inc. in Minnesota.

Kewpie did not disclose the value of the deal. Following the sale, the company will concentrate its overseas business resources in the Chinese and Southeast Asian markets.

Henningsen Foods manufactures powdered and frozen eggs used for processed products. It posted sales equivalent to 3.5 billion yen in January-March.

The U.S. firm will continue product supplies to Kewpie for the time being.

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