Mondelēz International has announced that it has completed the sale of its processed cheese business in the Middle East and Africa (MEA) to dairy giant Arla Foods.
The deal includes all cheese products under the Kraft brand in the region, as well as a cheese manufacturing site in Bahrain.
The move will enable the Oreo cookie maker to focus on faster-growing snacks categories, like chocolates, biscuits, powdered beverages and, gum and candy.
'A Leading Player'
EVP and president of Asia Pacific, Middle East, and Africa, Maurizio Brusadelli, said, “We will continue to be a leading player in the MEA snacking business. Our recently inaugurated state-of-the-art biscuits factory in Bahrain will continue to serve local and export markets, and will also now start producing Tang powdered beverages.”
The cream cheese brand Philadelphia and Jocca Cottage Cheese are not included in the deal, Mondelēz said in its statement.
In December of 2018, Arla foods announced plans to acquire the processed cheese business from the confectionery brand to consolidate its position in MEA markets.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
