Kraft Heinz to offload Canadian natural cheese unit to Parmalat

Lloyd Doyle
Ноября 9, 2018

The Ingleside Kraft plant is among assets the Kraft Heinz Company is selling to Parmalat in a $1.62 billion deal. Kraft Cheese has been a household name for a century and is now known by names such as Cracker Barrel, P'tit Quebec and Amooza.

This operation, subject to the approval of canadian regulatory authorities, is expected to be completed in the second quarter of 2019, said the French group.

The deal will also include the sale of a processing plant in Ingleside, Ont. and its 400 employees.

In another press release, Kraft, Heinz stressed that he would remain owner of other brands such as Philadelphia, Cheez Whiz and Kraft Singles, produced in Quebec.

Hees said the sale will allow Kraft to focus on the segments and categories where it has "stronger brand equity, competitive advantage and greater growth prospects".

Kraft Heinz announced today it has an agreement to sell its Canadian cheese business. The Kraft Heinz Company remains steadfast in its commitment to the Canadian market, illustrated by its recent acquisition of the Vancouver-based Ethical Bean coffee brand.

Читайте также: How Brodie Van Waganen can make the Mets competitive in 2019

Currently, Kraft, Heinz has about 2,000 employees in Canada. The company expects to use transaction proceeds primarily to pay down debt.

The Parmalat Group is a global player in the production and distribution of foods that are essential for everyday wellness: milk, dairy products and fruit beverages, which generated revenues of more than 6.6 billion euros in 2017.

Canada manages dairy supplies by setting production quotas, prices and curtailing imports.

"We are excited to work closely with the community and our stakeholders to ensure we can grow sustainably and help Canada's natural cheese business thrive".

Parmalat's Canadian business includes almost 3,000 employees, 16 dairy processing plants, and a research and development facility.

При любом использовании материалов сайта и дочерних проектов, гиперссылка на обязательна.
«» 2007 - 2019 Copyright.
Автоматизированное извлечение информации сайта запрещено.

Код для вставки в блог

Other reports by

Discuss This Article