Parmalat to acquire Kraft Heinz Canada natural cheese division

Parmalat has reached an agreement to acquire the natural cheese division of Kraft Heinz (brands Cracker Barrel, P’tit Québec and amOOza!) in the strategic Canadian dairy market.

Valued at $1.62 billion CDN, equivalent to around €1.1 billion, the deal will bring cost synergies and a wider product range and will allow the company to utilise more of the milk ingredients it already produces.

If approved by the competent authorities, the acquisition will also include the Kraft Heinz Canada processing plant in Ingleside, Ontario and its almost 400 employees.

Parmalat is already present in Canada with 3,000 employees, 16 dairy processing plants and a dedicated R&D facility.