fbpx
Big Law

Lactalis Group Announces it is Acquiring Part of Kraft Heinz

BUFFALO, N.Y.–(BUSINESS WIRE)–Lactalis Group (“Lactalis”), the world’s leading dairy group, today has entered into a definitive agreement for the acquisition by its U.S. affiliate of Kraft Heinz’s Natural, Grated, Cultured and Specialty cheese businesses in the U.S., Grated cheese business in Canada and entire International Cheese business outside North America.

With this acquisition, Lactalis will acquire a portfolio of iconic, strongly-positioned brands that include Cracker BarrelBreakstone’sKnudsenPolly-OAthenosHoffman’s and, outside the U.S. and Canada only, Cheez Whiz. In addition, Kraft Heinz will partner with Lactalis on a perpetual license for Kraft in Natural, Grated and International cheeses and Velveeta in Natural and International cheeses.

Under the terms of the transaction, Lactalis will acquire three world-class Kraft Heinz production facilities located in Tulare, CA, Walton, NY and Wausau, WI, and a distribution center in Weyauwega, WI. Approximately 750 Kraft Heinz employees will be joining Lactalis, and the company expects to add additional American jobs to support this business following the closing of the transaction which is expected in the first half of 2021, subject to regulatory approvals.

Read the source article at businesswire.com

    Leave a Review or Comment

    Your email address will not be published. Required fields are marked *

    Back to top button
    Close
    Close