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Burns Philp sells US vinegar

26-Aug-2002

Australian food ingredients producer Burns Philp & Co said on Monday that it would sell its North American industrial vinegar division to US private equity investor Swander Pace Capital for A$88 million (€48.5 million).

"It is anticipated that the sale will be completed by the end of September," Burns Philp said in a statement to the Australian Stock Exchange.

The industrial vinegar division trades under the Fleischmann brand name.Burns Philp shares slipped one cent or 1.6 per cent to A$0.64 by 10:40 am. (0040 GMT).

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