Parmalat SpA said it sold its baked goods operations to MisterDay Srl for 17.8 million euros ($21.3 million).

MisterDay is wholly owned by the Vincenzi Biscotti group. The Parmalat Bakery Division and the brands Grisbi, Mr. Day, Prontoforno and Matin have been officially transferred to VICENZI Biscotti S.p.A., the Italian-based business involved in the production of macaroons, ladyfingers and puff pastry.

Vicenzi will take over the Parmalat factories in Potenza, Verona, Como, and Avellino together with 400 employees.