Farm Pride Foods has announced the sale of its Golden Days snack food business to Manassen Foods Australia for approximately AUD$3.2m (US$2.5m).

Total estimated proceeds from the sale are $4.2m, including retained debtors and creditors.

Funds from the sale will be used towards working capital, debt reduction and further growth opportunities in the egg industry, the company said.

Farm Pride Foods chief executive Zelko Lendich said: "Farm Pride believes that given its pursuit of developing a fully integrated national egg production and marketing business, others were better placed to devote the time and resources to maximising the potential of the snackfood business."