Reports have surfaced asserting that Mondelēz International could be divesting another one of its cheese businesses. This week, The Telegraph reported that Mondelēz is considering selling its European Philadelphia soft cheese business.
“Philadelphia is a high-quality business for us and provides strong margin and cash flow, as well as scale benefits in several markets,” a Mondelēz spokesperson is reported to have said.
Similar to the reasoning behind the sale of its Kraft cheese business in the Middle East and Africa, Mondelēz is allegedly eyeing another dairy divestment as a means of continuing to focus on the bakery sector, particularly its chocolate and biscuit brands.
According to The Telegraph, the sale could bring in billions of dollars for the food giant.
When will Mondelēz’s Philadelphia business hit the market? And will more of its cheese businesses follow? Deli Market News will continue to report.