Kraft Heinz Parmalat Deal Can Proceed
It appears as if there are no further roadblocks to the proposed sale of Kraft Heinz of Canada to Parmalat of Italy in what would be a $1.6 billion transaction.
The federal Competition Bureau conducted a thorough review by gathering information and conducting interviews with key market participants, including grocery retailers, food service companies, regulators, industry associations, and cheese processors. Apparently no major concerns were brought to the surface.
The deal would see cheese-maker Parmalat Canada take over cheese brands Cracker Barrel, P’tit Quebec and Amooza. It would also include the purchase of Kraft’s Ingleside, Ont., processing plant, which employs nearly 400 people who would be transferred to Parmalat.
The deal is expected to be completed by the summer.