Kraft Heinz sells cheese brands to Groupe Lactalis for $3.3 billion
Brands sold include Cracker Barrel, Breakstone's, Knudsen, Athenos, Polly-O, Hoffman's and Cheez Whiz.
Kraft Heinz has completed the sale of certain assets in its global cheese business and the license of certain trademarks to an affiliate of Groupe Lactalis for total consideration of approximately $3.3 billion, including cash consideration of approximately $3.2 billion.
The transaction involves the divestiture of Kraft Heinz’s natural, grated, cultured, and specialty cheese businesses in the U.S., its grated cheese business in Canada, and its grated, processed, and natural cheese businesses outside the U.S. and Canada.