US: Kerry to acquire B2B powdered cheese business of Kraft Heinz
$107.5 million deal is expected to complete before the end of the year.
Tralee, Ireland headquartered taste and nutrition company Kerry Group is acquiring the business-to-business powdered cheese business and related assets of The Kraft Heinz Company for $107.5 million.
The acquired business has 62 employees and one manufacturing facility at Albany, Minnesota. Kerry stated that the “asset acquisition is expected to close in the coming months, enhancing Kerry’s scale, manufacturing capability and customer base in the important snacking category”.
The deal is expected to complete before the end of the year.