The French group Lactalis will buy from the American company its division dedicated to cheeses, as well as several of its brands elsewhere in the world, for 3.2 billion dollars (2.7 billion euros).
The transaction should be concluded by the end of June 2021, specifies the American group, known for its Heinz ketchup, its Capri-Sun drinks or its Maxwell coffees, in a press release published Tuesday. In a separate press release, Lactalis said it could be finalized as early as “early 2021”.
$ 3.5 billion
The transaction involves the brands Kraft, Cracker Barrel, Breakstone’s, Knudsen, Polly-O, Athenos, Hoffman’s in the United States as well as certain brands in Canada and elsewhere in the world. The agreement also provides that Lactalis can develop certain Kraft brands internationally. All of these activities represent a turnover of approximately $ 1.8 billion, which will bring Lactalis’ turnover in the United States to $ 3.5 billion.
With this new acquisition, the United States will become the first country of the Lactalis group after France. “Our group has been present in the United States for more than forty years and this operation represents a new significant step”, commented the president of the French company, Emmanuel Besnier, in the press release. Beyond consolidating our positions in the cheese sector, our objective will be to develop the internationalization of these brands in many regions of the world in synergy with our international establishments, ”he added.
“A competitive advantage”
For the Managing Director of Kraft Heinz, Miguel Patricio, the operation should allow his group “to build a competitive advantage in the niches” where it has strong brands, where growth prospects are greater, where it has capacity. large-scale industrial plants and where it can better use platforms intended for consumers[…]
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