Mondelez International has signed an agreement for the sale of its Kraft cheese brand activities in Africa and the Middle East to the Danish group Arla Foods. The amount of the transaction has not been disclosed.
All Kraft cheese products in the Middle East and Africa as well as the cheese factory in Bahrain are subject to this sales transaction. On the other hand, Philadelphia cream cheeses and Jocca quark are not included in the agreement and remain the property of Mondelēz International.
The transaction is expected to be completed in the coming months, subject to the approval of the supervisory authorities.