Mondelēz completes sale of cheese unit in Mideast to Arla
INDUSTRIAL NEWS
Mondelēz International announced today it completed the sale of its Kraft-branded cheese business in the Middle East and Africa (MEA) to Arla Foods of Denmark.
As previously announced, all Kraft-branded cheese products in the MEA markets, as well as a cheese manufacturing site in Bahrain, are part of this agreement, said a statement.
The transaction enables Mondelēz International to focus on faster-growing snacks categories, including chocolate, biscuits, powdered beverages and gum & candy offerings, it said.
“I am confident that this successful business will further develop under Arla Foods’ ownership and we wish them every success,” said Maurizio Brusadelli, EVP and president, Asia Pacific, Middle East, and Africa (AMEA) for MondelÄ“z International.
“We will continue to be a leading player in the MEA snacking business. Our recently inaugurated state-of-the-art factory in Bahrain will serve biscuits and Tang powdered beverages to our customers in Middle East and Africa.”
The cream cheese brand Philadelphia and Jocca cottage cheese are not included in the deal and remain under the ownership of Mondelēz International. There are no changes to the cheese & grocery business of Mondelēz International in other markets around the world as a result of this announcement, the statemen added. - TradeArabia News Service
