DuPont, General Mills Sell 8th Continent Soymilk

"DuPont Co. and General Mills Inc. have sold their joint venture that makes 8th Continent soymilk, the companies announced Monday.

Terms of the sale to privately held Stremicks Heritage Foods, of Santa Ana, Calif., were not announced.

The sale does not include DuPont's Solae Co. joint venture with Bunge Ltd. of White Plains, N.Y.

Solae will continue to provide soy protein to 8th Continent's new owner under a long-term contract, said Craig Binetti, Solae's chairman and chief executive.

In addition to 8th Continent soymilk, the deal includes a line of juice drinks with soy and an antioxidant smoothie drink.

Binetti said the sale made sense because Stremicks would be able to extend 8th Continent's presence. Stremicks makes organic milk as well as Soy Dream soymilk and Rice Dream rice drink."

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