Kraft Heinz set to sell parts of its cheese business to Groupe Lactalis

For 3.2 billion dollars, Kraft Heinz Company sells parts of its cheese business to the US affiliate of Groupe Lactalis. The transaction is expected to close in the first half of 2021. Kraft Heinz will retain the Philadelphia Cream Cheese, KraftSingles, Velveeta and Cheez Whiz businesses in the US and Canada, as well as Kraft, Velveeta and Cracker Barrel Mac & Cheese and Kraft Sauces businesses on a global level.