Kraft Heinz Selling Russian Baby Food Business
April 1, 2023
Kraft Heinz is selling its baby food business in Russia to local snack and beverage manufacturer Chernogolovka. Price was not disclosed.
Chernogolovka has been a beneficiary of the exodus of American food companies from Russia in the past year, acquiring the local operations of Kellogg Co. and seeing its share of the soft drinks market rise as Coca-Cola and Pepsi retreated, according to Reuters news service.
Apparently, the deal will include two factories and the Umnitsa and Sami s usami brands. The deal should close in the second half of this year.