Struggling Kraft Heinz sells dairy brands to Lactalis
By DEE-ANN DURBIN AP Business Writer
Kraft Heinz says it is selling its natural cheese business — including its Cracker Barrel brand — to French dairy company Lactalis Group as part of a larger restructuring.
The $3.2 billion sale includes Kraft Heinz production facilities in California, New York and Wisconsin that employ about 750 people. Kraft Heinz will retain the Philadelphia cream cheese brand, Kraft singles and the Velveeta and Cheez Whiz brands.
The company has been struggling as consumers seek out fresh, less processed food. It says the sale will help it focus its resources on other brands.
The sale is expected to close in the first half of next year.