Moxie Industries Sells Division for $9 Million
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Moxie Industries Inc. said Friday it had signed a definitive agreement to sell its Dari-Tech division to an undisclosed buyer for $9 million.
The Anaheim-based manufacturer of vitamins and nutritional food products said it would use the assets to invest in the growth of its food business and to reduce its bank debt.
In April, Moxie reported a first-quarter net loss of $58,000, compared with a net loss of $279,000 in the year-earlier period. Company officials attributed the loss to the sale of the company’s chocolate beverage business.
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