Parmalat to acquire Kraft Heinz Canada's natural cheese division
Source Canadian Grocer
Parmalat Group announced Tuesday that it has
entered into an agreement to acquire Kraft Heinz Canada’s natural cheese
division for $1.62 billion.
The agreement includes the sale of natural cheese brands Cracker
Barrel, P’tit Quebec and Amooza, and is expected to close in the first
half of 2019, subject to regulatory review and approval.
In a press release announcing the deal, Kraft Heinz said the natural
cheese business contributed approximately $560 million to the
company’s net sales in 2017.
The deal will also include the Kraft Heinz Canada manufacturing plant
in Ingleside, Ont. This adds to Parmalat’s existing network of
manufacturing sites in Winchester and Belleville, Ontario, and
According to a press release, Kraft Heinz will continue to own and
market its other cheese products, including Philadelphia, Cheez Whiz and
Kraft Singles, which are processed in Quebec.
The Canadian division of the Parmalat group currently has nearly
3,000 employees, 16 dairy processing plants and a research and