News

Kraft selling Italian cheese business to Group Lactalis

September 8, 2003

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CHICAGO -- Kraft Foods Inc., North America's largest food producer, is selling its Italian cheese business to Group Lactalis, a French dairy producer.

According to Reuters, subject to approval by the Italian competition authorities, Northfield, Ill.-based Kraft will sell its Invernizzi arm, which manufactures mozzarella, Gorgonzola and Crescenza cheese in its Caravaggio, Italy, facilities.

Sale price of the deal was not disclosed, though Invernizzi's 2002 revenues are estimated at 95 million euros (U.S. $105.7 million).