Sector News

Kraft Heinz agrees to sell B2B powdered cheese business to Kerry

September 3, 2022
Consumer Packaged Goods

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


comments closed

Related News

April 14, 2024

McCain Foods completes acquisition of Strong Roots

Consumer Packaged Goods

McCain Foods has completed the acquisition of Irish plant-based frozen food manufacturer Strong Roots. The acquisition follows McCain and Strong Roots’ strategic partnership, which began in 2021 and resulted from a $55 million investment.

April 14, 2024

Cargill’s alternative cocoa collaboration gets off the ground as cocoa prices continue to climb

Consumer Packaged Goods

Cargill partners with Voyage Foods to scale up alternatives to cocoa-based products to meet consumers’ indulgence needs. The commercial partnership will also provide food manufacturers with nut spreads produced with no nut or dairy allergens used in the recipe formulation.

April 14, 2024

L’Occitane stock still halted as owner reportedly tries again to privatize beauty company

Consumer Packaged Goods

L’Occitane International owner Reinold Geiger is reportedly close to taking the company private in a deal with Blackstone. The French skin care company’s filing halted trading of its Hong Kong-listed shares this week. This is the second time in months that the Australian billionaire has attempted a buyout.

How can we help you?

We're easy to reach