Queensland food producer Buderim Ginger has sold its baking business to pay down debt.
The Sunshine Coast-based firm sold its wholly-owned subsidiary Buderim Baking Company, which makes pies, tarts and quiches, for $1.9 million. The sale price includes $900,000 for stock, as reported by The Sydney Morning Herald.
Buderim Ginger will use the sale proceeds to reduce bank debt by $500,000 and provide additional working capital.
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