Swiss consumer goods company The Hero Group has sold its U.S. decoration business Signature Brands to investors Traub Capital, Hero said on Monday without giving financial terms.
Signature Brands products include Betty Crocker and Cake Mate desert decorations and Paas Easter egg dyes, its website shows.
The divestment comes as Hero focuses on core categories of baby and toddler food, healthy snacks, natural spreads, and gluten-free products. It keeps a U.S. presence with its Beech-Nut Nutrition unit, which makes baby and toddler food.
Rothschild & Co, PJ SOLOMON, and law firm Ropes & Gray LLP advised Hero. Law firm Lowenstein Sandler LLP and financial adviser B. Riley FBR worked for Taub, Hero said in a statement.
By Michael Shields
Source: Reuters
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