Parmalat Buying Kraft Cheese Division

Parmalat logo

CBJ — Parmalat Group is buying Kraft Heinz Canada’s natural cheese division for just over $1.6 billion.

The business transaction would see Parmalat Canada take stewardship of the cheese brands Cracker Barrel, P’tit Quebec and Amooza.

It would also include the purchase of Kraft’s plant in Ingleside, Ontario, which employs nearly 400 people who would be transferred to Parmalat.

The Kraft Heinz Company says in a statement the deal is subject to regulatory review and approval, and is expected to close in the first half of 2019.

Parmalat’s Canadian business includes nearly 3,000 employees, 16 dairy processing plants, and a research and development facility.

@CanBizJournal

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