The Kraft Heinz Company plans to sell its business-to-business powdered cheese ingredients business to Kerry Group.
Kerry is looking to expand its portfolio of ingredients, while Kraft Heinz wants to focus on its core products.
The sale will involve a powdered cheese manufacturing facility in Albany, Minnesota. The 62 Albany Kraft Heinz employees will be transferred to Kerry Ingredients as the plant continues normal operations.
The proposed transaction is expected to close in the second half of 2022, subject to regulatory review and approval.