US food giant Kraft Heinz has sold its B2B powdered cheese business to Irish ingredients group Kerry Group for $107.5 million.
The deal includes a manufacturing facility in Albany, Minnesota. His 62 employees at the site will move from Kraft Heinz to Kerry.
Beans, sauces and soups maker Kraft Heinz said the sale of its cheese powder division, which was part of its ingredients business, “reflects the company’s continued and aggressive portfolio optimization.” rice field.
A spokesperson for Kraft Heinz declined to comment on whether the company will try to sell more ingredients or on annual sales figures for the division. The Group’s Kraft Heinz Ingredients division supplies food manufacturers with a variety of cheese and dairy ingredients, including processed and soft cheeses. Confectionery ingredients and spices are also introduced in the ingredient corner.
Kelly, meanwhile, said the acquisition would increase the company’s “scale, manufacturing capabilities and customer base in key snack categories.”
In 2020, Kraft Heinz sold a range of cheese brands to French dairy giant Lactalis for his $3.2 billion, and also announced a broader “transformation plan” to grow more consistently. Lactalis then had to sell two brands following competitive reviews. Two years ago, soup maker Heinz sold its Canadian natural cheese business for C$1.62 billion (then $1.23 billion) to Italy-based dairy company Parmalat, majority-owned by Lactaris.
Kraft Heinz continues to sell cheese products under brands such as Kraft and Philadelphia.
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Source: UK Grocer