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NORTHFIELD, Ill. -- Kraft Foods, Inc. here has said it will sell two juice brands -- Fruit2O water and Veryfine -- to Cincinnati-based Sunny Delight Beverages Co.
The sale will be completed during the fourth quarter. Terms of the deal were not disclosed.
Kraft c.e.o. Irene Rosenfeld has launched a turnaround effort aimed at revitalizing sales of the company's brands, which include Maxwell House, Kool-Aid, and Oscar Mayer. The sale of the drink brands, which had net revenue of $135 million last year, is the latest in those efforts.
Kraft will sell the drink brands, along with manufacturing equipment and a plant in Littleton, Mass. The factory's 200 employees will be transferred to Sunny Delight, Kraft officials said.