Bloomberg News

Hypermarcas Declines as Growth Concern Outweighs Brand Sales

December 13, 2011

(Updates to say Hypermarcas fell in Sao Paulo.)

Dec. 12 (Bloomberg) -- Hypermarcas SA, the maker of more than 180 consumer products, fell in Sao Paulo as concern Brazil’s economy may falter outweighed an asset sale that had propelled the shares higher earlier in the day.

Shares fell 3 percent to 8.54 reais at the close of trading after earlier jumping as much as 3.4 percent. The benchmark Bovespa index slid 1.5 percent, sinking to the lowest since Nov. 30 as economists cut their forecast for Brazil’s 2012 gross domestic product expansion for a third straight week.

Hypermarcas agreed to sell the Salsaretti, Puropure and Etti food brands to Bunge for 180 million reais ($97.6 million), according to a statement the Sao Paulo-based company sent to securities regulators. In a separate statement, Hypermarcas said it sold its Perfex, Cross Hatch and the Assolan cleaning brands to Quimica Amparo for as much as 125 million reais.

--Editors: Richard Richtmyer, Brendan Walsh

To contact the reporter on this story: Ney Hayashi in Sao Paulo at ncruz4@bloomberg.net

To contact the editor responsible for this story: David Papadopoulos in New York at papadopoulos@bloomberg.net


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