Suntory may sell Fountain, Saxa brands

Suntory Beverage and Food is looking to sell its Cerebos' food and instant coffee business, which boasts brands such as Fountain and Saxa.

Iconic brands including Fountain, Gravox and Saxa are up for sale following a strategic review by their Japanese owner.

Suntory Beverage and Food says it is looking to offload its Cerebos Australia and Cerebos Gregg's New Zealand operations within six to nine months, although it will retain the fast-growing fresh coffee business that includes Toby's Estate.

The products up for grabs include sauces, gravies, herbs, spices, salt, condiments, Asian sauces, desserts and cooking ingredients, with UBS appointed to advise on the sale.