Kraft Heinz agrees to sell its natural cheese business to Groupe Lactalis
The transaction is expected to close in the first half of 2021.
The Kraft Heinz Co., headquartered in Chicago and Pittsburgh, said it entered into a definitive agreement to sell its natural, grated, cultured and specialty cheese businesses to a U.S. affiliate of the French dairy giant Groupe Lactalis (Buffalo, N.Y.-based Lactalis American Group) for the purchase price of $3.2 billion. The proposed transaction is expected to close in the first half of 2021, subject to regulatory review and approval.
The transaction includes Kraft Heinz’s natural, grated, cultured and specialty cheese businesses in the United States, grated cheese business in Canada, and the entire international cheese business outside these two countries, Kraft said, including the following brands: Breakstone’s, Knudsen, Polly-O, Athenos, Hoffman’s, Cracker Barrel in the United States only, and Cheez Whiz outside the United States and Canada only.
Exclusive Insights: Get the scoop on the latest news and trends in the dairy industry through our premium online content and Dairy Foods eNewsletters, delivered weekly and monthly.
Professional Development: Don’t just consume the news by reading, listen and watch it! Dairy Foods videos and podcasts bring on key executives and figures in the dairy industry to discuss what’s going on for them and what’s happening in the industry and what new products, events or company milestones are on the way.
Educational Opportunities: Our on-demand webinars bring voices from the dairy industry to inform and educate fellow dairy professionals on a variety of topics that will help their business and products succeed in the market.