Mondelēz International completes sale of its MEA cheese business
Mondelēz International has completed the sale of its Kraft-branded cheese business in Middle East and Africa (MEA) to Arla Foods.
All Kraft-branded cheese products in the African and Middle-East markets, as well as a cheese manufacturing site in Bahrain, are part of this agreement with Arla Foods of Denmark.
Mondelēz International Inc products are available in 150 countries around the world and the company has stated that it reached net revenues of approximately $26 billion in 2018. According to Mondelēz International, this sale is to enable a focus on faster-growing snacks categories.
“I am confident that this successful business will further develop under Arla Foods’ ownership and we wish them every success,” said Maurizio Brusadelli, EVP and President, Asia Pacific, Middle East, and Africa (AMEA) for Mondelēz International. “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 and remain under the ownership of Mondelēz International. Further to this, there are no changes to the cheese and grocery business of Mondelēz International in other markets around the world as a result of the sale.