The Kraft Heinz Co., a food and beverage company, recently signed an agreement with Italy-based NewPrinces Group, a food and beverage producer, to sell its Italian infant and specialty food business.
The deal includes the sale of Kraft Heinz’s production facility in Latina, Italy, the Aproten and Biaglut specialty food brands and the Plasmon, Nipiol and Dieterba infant food brands. The factory employs approximately 300 people. It produces approximately 1.8 billion biscuits annually under the Plasmon brand.
“This marks an important milestone in driving our strategy across Europe and the Pacific, enabling us to fuel investment and growth in our core areas, and enhance focus on our Accelerate platforms,” Willem Brandt, Kraft Heinz Europe and Pacific Developed Markets president, said. “It’s a great example of how we’re intentionally and proactively managing our portfolio to accelerate organic growth and drive sustainable, long-term value.”
The sale is part of Kraft Heinz’s strategy to drive profitable growth through its Accelerate platforms.
The deal is expected to close at the end of the year, subject to regulatory review and approval. Kraft Heinz also is in a mandatory consultation period with local Italian unions.
The NewPrinces Group’s portfolio includes the Delverde, Branston, Flora, Napolina, and Princes brands.