Arla Foods to acquire Kraft-branded cheese business in Middle East, Africa from Mondelēz International
The Philadelphia cream cheese and Jocca cottage cheese brands are not included in the sale.
Mondelēz International Inc., East Hanover, N.J., said it reached an agreement to sell its Kraft-branded cheese business in Middle East and Africa to Arla Foods of Denmark. Financial details of the transaction will not be disclosed.
Mondelēz International said the move allows it to focus on its newly announced strategic plan to drive top-line growth and generate attractive returns, centered around three priorities: accelerating consumer-centric growth, driving operational excellence and building a winning growth culture. Under this plan, the company will continue to focus on faster-growing snacks categories, including its core chocolate, biscuits, and gum and candy offerings.
“We’re very proud to have been the custodians of the Kraft cheese brand in recent years,” said Maurizio Brusadelli, executive vice president and president, Asia Pacific, Middle East and Africa for Mondelēz International. “Our talented teams have been instrumental to the success of our cheese business in this region, and I am confident that they will continue contributing their significant expertise under new owners. The time is right for the brand to take the next step in its journey, and we are very happy to hand over this successful business to Arla Foods.”
The Philadelphia cream cheese brand and Jocca cottage cheese brand are not included in the deal and remain under the ownership of Mondelēz International.