Kraft Heinz has entered into a definitive agreement to sell its B2B powdered cheese business to Kerry Group.
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.
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