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Article: Takeda Pharmaceutical to sell food business to House in '07.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- December 26, 2005
CopyrightCOPYRIGHT 2005 Kyodo News International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dec. 26--OSAKA -- Takeda Pharmaceutical Co. will sell its food business to House Foods Corp. in October 2007 for an estimated 30 billion yen, the two companies said Monday.
Under their basic agreement, Takeda will spin off its food and beverage business in April 2006, allowing House to acquire a 66 percent stake in the new company.
The remaining 34 percent will be sold to House in October 2007, they said.
Takeda said about 300 employees of Takeda Food Products Ltd. are expected to be transferred to House, Japan's largest producer of spices.
"By integrating Takeda's development capacities for health products and our food processing ...