Kerry Group PLC announced the acquisition of the B2B powdered cheese business of Kraft Heinz
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The global taste & nutrition firm Kerry announced that it has landed on a decision to acquire The Kraft Heinz Company’s (“Kraft Heinz”) B2B powdered cheese business and related assets for consideration of $107.5 million. The acquired business has 62 employees and one manufacturing facility in Albany, Minnesota. The deal entails the sale of Kraft Heinz’s B2B powdered cheese products, which are distributed by the company’s Ingredients division.
In recent years, Kerry has also changed its focus from consumer items to the fast-growing food and beverage ingredients sectors, which have higher margins than the supermarket supply. The acquisition is expected to enhance Kerry’s scale, production capability, and customer base in the snack category. The B2B powdered cheese business’s sale is a result of the company’s continuing, active portfolio optimization. The M&A tactics of the two food giants are crystallized in this agreement. While Kerry Group has been aiming to increase its ingredient offers, Kraft Heinz has been attempting to customize its portfolio and focus on core industries.
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