The Kraft Heinz Company announced the sale of its Canadian natural cheese business to Parmalat for a purchase price of $1.62 billion.
The agreement includes Cracker Barrel, P’tit Québec, and aMOOza! brands in the Canadian market.
Under the terms of the transaction, Parmalat acquired Kraft Heinz’s production facility located in Ingleside, Ont., relevant volumes of milk quotas and approximately 400 employees from the Ingleside facility.
Kraft Heinz will continue to own and market its other cheese products, including iconic brands such as Philadelphia, Cheez Whiz and Kraft Singles, which are manufactured in Mount Royal, Que., where Kraft Heinz Canada employs approximately 900 people.
Kraft Heinz is the fifth-largest food and beverage company in the world, known for iconic brands that include Kraft, Heinz, ABC, Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia, Planters, Plasmon, Quero, Smart Ones and Velveeta.
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