WINCHESTER – Parmalat Canada announced today (Tues., July 2) the closing of its deal to purchase Kraft Heinz’s natural cheese business.
In a deal worth $1.62 billion, the acquisition includes the Cracker Barrel, P’Tit Quebec, and aMooza brands in the Canadian market.
As part of the transaction, Parmalat will also officially acquire Kraft Heinz’s production facility in Ingleside, relevant volumes of milk quotas, and approximately 400 employees from the plant in the South Stormont village.
The deal also represents a significant investment in Canadian dairy, according to the Lactalis Group, Parmalat’s owner. In all, the firm, which is headquartered in France, has further extended its footprint in this country, which already included nearly 3,000 employees, 16 dairy processing plants, and a dedicated research and development facility.