NutraCea sells three brands, trademarks
March 19, 2010
by Jeff Gelski
PHOENIX – Nutracea, a stabilized bran company, said last week it has signed an agreement under which it is selling the rights to its Natural Glo, Satin Finish and Max-E-Glo equie brands and trademarks to Manna Pro Products L.L.C., for about $650,000. As part of the transaction, the companies have signed an agreement under which Nutracea will supply Manna Pro with stabilized rice bran.
W. John Short, chairman and chief executive officer of Nutracea, said the transaction will allow the company to “focus on our core competency of supplying stabilized rice bran in bulk to all of our animal and human nutrition customers.” The transaction is part of a restructuring being conducted as part of a Chapter 11 bankruptcy reorganization filed for in November 2009.