TORONTO, PITTSBURGH, and CHICAGO, July 2, 2019 /CNW/ - The Kraft Heinz Company
announced today the closing of the previously announced sale of its
Canadian natural cheese business to Parmalat for a purchase price
of $1.62 billion CAD (approximately
$1.24 billion USD at current FX
rates). 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, Ontario, 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, Quebec, where Kraft Heinz Canada proudly
employs approximately 900 people.
About Kraft Heinz
The Kraft Heinz Company (NASDAQ: KHC) is the fifth-largest food and
beverage company in the world. A globally trusted producer of
delicious foods, The Kraft Heinz Company provides high quality,
great taste and nutrition for all eating occasions whether at home,
in restaurants, or on the go. The Company's iconic brands 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. The
Kraft Heinz Company is dedicated to the sustainable health of our
people, our planet and our Company.
For more information, please visit
www.kraftheinzcompany.com.
SOURCE Kraft-Heinz Canada