Kraft Heinz to sell B2B powdered cheese business to Kerry Group
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The Kraft Heinz Company (NASDAQ:KHC) has signed an agreement to sell its B2B powdered cheese business to global food, beverage and pharma manufacturer Kerry Group.
The proposed transaction is expected to close in the second half of 2022.
This divestiture includes the Albany, Minn., manufacturing facility, which is expected to operate in ordinary course.
Employees at the Albany location will be transferred from Kraft Heinz to Kerry Group.
Financial terms were not disclosed.