Brazilian dairy firm LAEP Investments has sold its Poços de Caldas brand to Laticínios Morrinhos.

LAEP mase the sale, which was announced on Friday (29 August), through its subsidiary Companhia de Alimentos Glória.

The sale will include Poços de Caldas' registered brands and brand registration requests, the domain name and all its strategic assets, including all the production line equipment for requeijão (Brazilian soft cheese).

Glória has also handed the licence to Brazilian soft cheese brand Paulista to Laticínios Morrinhos in Brazil, Bolivia and Paraguay for 15 years.

LAEP said the entire deal was worth BRL50m (US$30.5m).