Mondelēz International Completes Sale of Cheese Business in Middle East and Africa to Arla Foods
- Sale includes all Kraft-Branded Cheese Products in MEA Markets
- Philadelphia and Jocca Cottage Cheese are not included in the sale
MANAMA, Bahrain, May 30, 2019 (GLOBE NEWSWIRE) -- Mondelēz International, Inc. (NASDAQ: MDLZ) announced today it completed the sale of its Kraft-branded Cheese business in Middle East and Africa (MEA) to Arla Foods of Denmark. As previously announced, all Kraft-branded Cheese products in the MEA markets, as well as a Cheese manufacturing site in Bahrain, are part of this agreement.
The transaction enables Mondelēz International to focus on faster-growing snacks categories, including Chocolate, Biscuits, Powdered Beverages and Gum & Candy offerings.
“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. There are no changes to the Cheese & Grocery business of Mondelēz International in other markets around the world as a result of this announcement.
About Mondelēz International
Mondelēz International, Inc. (NASDAQ: MDLZ) empowers people to snack right in approximately 150 countries around the world. With 2018 net revenues of approximately $26 billion, MDLZ is leading the future of snacking with iconic global and local brands such as Oreo, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy and Trident gum. Mondelēz International is a proud member of the Standard and Poor’s 500, Nasdaq 100 and Dow Jones Sustainability Index. Visit www.mondelezinternational.com or follow the company on Twitter at www.twitter.com/MDLZ.
|Contacts:||Ola Loutfi (MEA)||Tom Armitage|
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