Mondelēz International is bidding adieu to its Kraft-branded cheese business in the Middle East and Africa. After putting this asset on the market, the company announced Arla Foods of Denmark has completed the purchase of this business.
“I am confident that this successful business will further develop under Arla Foods’ ownership and we wish them every success,” said Maurizio Brusadelli, Mondelēz International’s EVP and President, Asia Pacific, Middle East, and Africa. “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.”
According to a press release, the transaction includes all Kraft-branded cheese products in the Middle East and Africa markets and the company’s cheese manufacturing site in Bahrain. The transaction does not include cream cheese brand Philadelphia or Jocca cottage cheese; both of which will remain under Mondelēz International’s ownership.
Now that Mondelēz International has divested this business, the company plans on expanding its reach and capabilities in the snack category.
For more deli, dairy, bakery, and specialty foods expansions, acquisitions, and sales, Deli Market News will continue to report.