Danish food producer Arla Foods is acquiring Mondelēz International’s Kraft-branded Cheese Business in the Middle East and Africa (MEA) for an undisclosed amount.
The deal sees Arla gain control of all Kraft-branded cheese products in the MEA markets as well as a cheese manufacturing facility in Bahrain.
The sale was motivated by Mondelēz’s desire to focus on growing its “faster-growing” snacks categories, including its core chocolate, biscuits, gum & candy offerings.
“We’re very proud to have been the custodians of the Kraft Cheese brand in recent years,” said Maurizio Brusadelli, EVP and President AMEA 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.”
Executive Vice President of Arla Foods’ International business, Tim Ørting Jørgensen, said: “have an established and growing business in the Middle East and know our consumers and customers well in this part of the world.
“As such, this deal is an excellent strategic fit for us as it enables us to both expand our branded presence in the cheese category and secure the local production capacity we have been looking for to continue to grow our business.”