Kraft offloads plant, cheese brands to Spanish firm
Fri. May 08, 2009; Posted: 08:25 AM
May 08, 2009 (M2 EQUITYBITES via COMTEX) --
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PowerRating -- Food giant Kraft Foods (NYSE:KFT) has agreed to divest its plant in
Mahon and its cheese brands Tranchettes, Sante and Quesilettes to
Spanish group Nueva Rumasa, Cinco Dias said on Friday (8 May 2009)
citing the firms.
The transaction, whose financial details were not disclosed, is
expected to close on 30 June. Currently, the deal is undergoing a due
diligence procedure.
Nueva Rumasa said it would keep the 164 jobs in Mahon.
Sector: Food
Type: Asset sale
Target: Plant/Cheese brands
Vendor: Kraft Foods Inc
Buyer: Nueva Rumasa
Status: Agreed
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