Kraft Heinz to sell several cheese businesses to Lactalis for US$3.2 billion

Kraft Heinz to sell several cheese businesses to Lactalis for US$3.2 billion

Kraft Heinz Co said on Tuesday that it will sell several of its cheese businesses to a U.S. affiliate of France's Groupe Lactalis for US$3.2 billion.

FILE PHOTO: A Heinz Ketchup bottle sits between a box of Kraft macaroni and cheese and a bottle of
FILE PHOTO: A Heinz Ketchup bottle sits between a box of Kraft macaroni and cheese and a bottle of Kraft Original Barbecue Sauce on a grocery store shelf in New York March 25, 2015. REUTERS/Brendan McDermid

CHICAGO: Kraft Heinz Co said on Tuesday that it will sell several of its cheese businesses to a U.S. affiliate of France's Groupe Lactalis for US$3.2 billion.

The deal, which is expected to close in the first half of 2021, includes Kraft Heinz's U.S. natural, grated, cultured and specialty cheese businesses and its grated cheese business in Canada.

(Reporting by Richa Naidu)

Source: Reuters

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