Mondelez: sells Kraft-branded cheeses in Middle East, Africa
(CercleFinance.com) - Mondelez said that it has reached an agreement to sell its Kraft-branded cheese business in Middle East and Africa to Denmark's Arla for an undisclosed sum.
The US food giant said that the move is part of its strategy to focus on faster-growing snacks categories, including chocolate, biscuits, gums and candies.
Yet, the scope of the deal does not include the cream cheese brand, Philadelphia, which will still be owned by Mondelez.
The transaction is expected to close in the next few months.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
The US food giant said that the move is part of its strategy to focus on faster-growing snacks categories, including chocolate, biscuits, gums and candies.
Yet, the scope of the deal does not include the cream cheese brand, Philadelphia, which will still be owned by Mondelez.
The transaction is expected to close in the next few months.
Copyright (c) 2018 CercleFinance.com. All rights reserved.