The transaction involves the divestiture of Kraf’s B2B powdered cheese products, which are sold through its ingredients business. It also includes the company’s manufacturing facility in Albany, Minnesota, which is expected to operate in ordinary course.
Employees based at the Albany facility will be transferred from Kraft to Kerry.
Kraft says the sale reflects the company’s “ongoing and active portfolio optimisation”.
The transaction is expected to close in the second half of 2022, subject to regulatory review and conditions.
By Sian Yates
Source: foodbev.com
The facility is designed to foster innovation and deepen collaboration with customers, by offering a range of new services and solidifying its role as a central hub for customer support. Tereos’ team, supported by a network of 50 scientists, will ensure customers can innovate and meet the rising consumer demand for healthier and more sustainable products.
Glanbia has agreed to acquire Flavor Producers from Aroma Holding for an initial consideration of $300 million. Flavor Producers is a US-based flavour platform, providing flavours and extracts to the F&B industries, with a focus on organic and natural ingredients.
Lesnard, who previously worked at Nike, The North Face and Sephora, has a mission to “grow and sustain GODIVA’s position and expertise in the premium chocolate category, leveraging ongoing support from pladis to take GODIVA and its legendary chocolate to new heights.”
