TRALEE, IRELAND — Kerry Group has entered into a definitive agreement with the Kraft Heinz Co., Pittsburgh, to acquire Kraft’s B2B powdered cheese business for an undisclosed sum.
In addition to powdered cheese products from the Kraft Heinz Ingredients brand, Kerry will acquire Kraft’s manufacturing facility in Albany, Minn., and the facility’s employees.
“The divestiture of the B2B powdered cheese business reflects the company’s ongoing and active portfolio optimization,” Kraft Heinz said.
The transaction is expected to close in the latter half of 2022, following regulatory review and approval.
In November 2021, Kraft Heinz completed the sale of its natural cheese business to an affiliate of Groupe Lactalis for approximately $3.3 billion.
