Kraft Heinz Co

NASDAQ:KHC  
43.74
-0.08 (-0.18%)
4:22:13 PM EDT: $44.07 +0.33 (+0.75%)
Divestitures / Spin-offs, Other Pre-Announcement, Mergers / Acquisitions

Kraft Heinz To Sell Its Natural Cheese Business For $3.2 Bln

Published: 09/15/2020 16:30 GMT
Kraft Heinz Co (KHC) - Kraft Heinz Announces Agreement to Sell Its Natural Cheese Business to Groupe Lactalis.
Kraft Heinz Co - Deal for Purchase Price of $3.2 Billion Usd.
Kraft Heinz Co - to Sell Its Natural, Grated, Cultured and Specialty Cheese Businesses to a U.S. Affiliate of Groupe Lactalis.
Kraft Heinz Co - Approximately 750 Employees Will Be Transferred From Kraft Heinz to Groupe Lactalis.
Kraft Heinz - to Retain Philadelphia Cream Cheese, Kraft Singles, Velveeta Processed Cheese and Cheez Whiz Processed Cheese Businesses in U.S., Canada.
Kraft Heinz Co - Will Retain Kraft, Velveeta and Cracker Barrel Mac & Cheese Businesses Worldwide, and Kraft Sauces Business Worldwide.
Kraft Heinz Co - Expects to Use Post-tax Transaction Proceeds Primarily to Pay Down Debt.
Kraft Heinz - Will Partner With Groupe Lactalis on a Perpetual License for Kraft in Natural, Grated and International Cheeses.
Kraft Heinz - Will Partner With Groupe Lactalis on a Perpetual License for Kraft in Velveeta in Shredded and International Cheeses.