Kraft Heinz has agreed to sell its B2B powdered cheese business to Kerry Group.
The deal involves the divestiture of its powdered cheese products, which are sold through its ingredients business, and its manufacturing facility in Albany, Minnesota.
Kraft employees at the Albany facility will be transferred to Kerry.
According to Kraft, the sale reflects its ongoing and active portfolio optimization.
The transaction is set for completion in the second half, subject to regulatory review and conditions.
