9/15/2020, 5:45 PM (Source: TeleTrader)
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Kraft Heinz selling cheese business for $3.2B - report

Kraft Heinz Co. is planning to sell a part of its cheese business to the French multinational dairy products corporation Lactalis for $3.2 billion, the Wall Street Journal reported on Tuesday.

The deal, which is expected to be announced today, includes a mix of Kraft Heinz's brands in North America, people close to the matter told the news organization.

In addition, the food giant announced plans to cut $2 billion in costs over five years.

Breaking the News / MD