Kraft Heinz has sold its powdered cheese ingredient business to Kerry Group, as the latest step in the divestiture of its cheese portfolio.
Kraft Heinz has sold its powdered cheese ingredient business to Kerry Group, as the latest step in the divestiture of its cheese portfolio.
The deal includes a processing facility in Albany, Minn., with its 60 or so employees all expected to transfer over to Kerry. The transaction is scheduled to be finalized by the end of the year. Financial terms were not disclosed.
The sale to Kerry is part of an ongoing divestiture of Kraft Heinz’s cheese business that began with the sale of most of the company’s domestic cheese business, and all of its international retail cheese business, to Lactalis. That deal was announced in late 2020 but took more than a year to go through because of antitrust concerns, which led to Kraft Heinz having to sell a couple of brands to other companies. The Kerry deal will likewise be subject to regulatory review.
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