Kraft Heinz Canada announces sale of natural cheese line to Parmalat
Deal also includes production facility in Canada
The Kraft Heinz Co. has announced plans to sell its Canadian natural cheese business to Italian company Parmalat for approximately $1.23 billion. The agreement includes the sale of natural cheese brands Cracker Barrel, P’tit Quebec and aMOOza! in the Canadian market.
“We’re excited about what this transaction means for our future growth and business in Canada,” says Bernardo Hees, chief executive officer of Kraft Heinz. “We also believe Parmalat is uniquely positioned to advance the natural cheese business given their experience and focus on the dairy industry. At the same time, we can focus on the segments and categories where we have stronger brand equity, competitive advantage and greater growth prospects.”