Dairibord Holdings Zimbabwe Ltd. sold its 40 percent stake in Charhons (Pvt) Ltd. to Cairns Holdings Ltd., the Daily News said, citing Dairibord Chief Executive Officer Anthony Mandiwanza.
The Zimbabwean candy and chocolate maker was sold for $1 million, the Harare-based newspaper said on its website.
Dairibord, the southern African nation’s biggest dairy- products producer, also plans to sell Mulanje Peak Foods, a unit it owns in Malawi, it said.
The dairy producer said revenue rose 19 percent to $24 million in the first quarter through March 31 this year, while production rose 13 percent to 16.2 million liters.
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