Monsanto Sells Another NutraSweet Unit

Monsanto Co. is selling its sweetener-ingredient business, which includes a NutraSweet brand name, to a Boston-based investment firm for $440 million. St. Louis-based Monsanto said it signed an agreement to sell the unit to J.W. Childs Equity Partners II. It said Childs has agreed to retain all employees in the sweetener-ingredient unit. Monsanto also announced the sale of its interests in two European joint ventures, NutraSweet and Euro-Aspartame. The deals end Monsanto’s business in consumer and bulk food ingredients. The company has been selling divisions that don’t fit with its long-term strategy of pharmaceuticals and agriculture-related products. Monsanto shares fell 11 cents to close at $47.36 on the New York Stock Exchange.