Dare Foods subsidiary buys Mary’s Gone Crackers
Kameda Seika sells Mary’s Gone Crackers to Rosseau Inc., U.S. subsidiary of Dare Foods in a debt equity swap.
In a letter to investors, Kameda explained Mary’s Gone Crackers was facing challenging business conditions due to soaring raw material prices. It therefore decided to sell the business and concentrate on growing the rice cracker products market in the U.S. with the aim of becoming a ‘rice innovation company that maximizes the potential of rice and creates new value and new markets around the world’.
Source: www.foodincanada.com