MINNEAPOLIS, MINNESOTA, US —Phoenix Global Investment and Grupo Puig, a Venezuelan cookie producer, has agreed to purchase Cargill’s Venezuelan operations, Bloomberg reported, citing an emailed statement from Cargill. Financial terms of the transaction were not disclosed.

Once the sale is finalized, Grupo Puig will oversee local operations.

In the emailed statement, Cargill said current local employees and managers are to be retained.

Cargill’s Venezuelan operations include the production of wheat flour, pasta, cooking oil, salt and animal feed.