Kraft Heinz is selling big chunks of its cheese business to Groupe Lactalis of France.
The grated cheese it sells in Canada is a valuable part of the deal and will add to Lactalis’s Cracker Barrel, Black Diamond, Balderson, Amooza, P’tit Quebec, Galbani and President brands it picked up from Parmalat.
Kraft Heinz has had disappointing financial results after it was taken over by Warren Buttet and 3G Capital of Brazil, the same team that bought Tim Horton’s, Burger King and Popeye’s.
There are reports that its Maxwell House coffee and Ore-Ida frozen potatoes businesses are for sale.
Kraft Heinz is keeping its Philadelphia, Kraft Singles, Velveeta and Cheez Whiz brands in the U.S. and Canada. It will also keep the Kraft, Velveeta and Cracker Barrel Mac + Cheese businesses worldwide.
A banking source told Reuters news agency that the shredded cheese business in the United States would likely be attractive to Lactalis, as it is “extraordinarily profitable.”
Maybe Kraft Heinz heard that Trump plans to ban shredded cheese to Make America Grate Again.
