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Like several other segments of dairy, most natural and processed cheese categories enjoyed strong dollar sales during a recent 52-week period, but suffered unit sales declines, according to information provided by Chicago-based Circana.
The transaction involves the divestiture of Kraft Heinz’s natural, grated, cultured and specialty cheese businesses in the United States; its grated cheese business in Canada; and its grated, processed and natural cheese businesses outside the United States and Canada.
November 29, 2021
The Kraft Heinz Co., headquartered in Pittsburgh and Chicago, said it completed the sale of certain assets in its global cheese business and the license of certain trademarks to an affiliate of Groupe Lactalis for total consideration of approximately $3.3 billion, including cash consideration of approximately $3.2 billion.
The past year saw reduced demand for cheese on the foodservice side, thanks to widespread pandemic-related restaurant closures and indoor dining bans. However, the picture was much brighter on the retail cheese side.
The good news continues on the cheese front. According to Portland, Ore.-based Allied Market Research, the U.S. cheese market was valued at $32.3 billion in 2017, and is projected to reach $40.5 billion by 2025, growing at a compound annual growth rate of 2.8%.