Snow Brand Foods Co., a meat processor and subsidiary of Snow Brand Milk Products Co., said Friday that it will sell its imported food additives operation to trading house Nissho Iwai Corp. on March 31.
Snow Brand Foods said it and Nissho Iwai have yet to formally agree on the transfer price, but Nissho Iwai said it plans to purchase the business for about 1 billion yen.
The operation in question is Snow Brand Foods' imported products division, excluding health-care products. The division sells imported pectin and other food-thickening agents used in jellies and jams, as well as coffee and cocoa ingredients.