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Kraft Heinz to Sell Cheese Businesses to Groupe Lactalis in $3.2 Billion Deal
- Client News
- September 15, 2020
Paul, Weiss is advising the Kraft Heinz Company in the $3.2 billion sale of its natural and cultured cheese businesses to Groupe Lactalis, a French multinational dairy products corporation. The proposed transaction is expected to close in the first half of 2021, subject to regulatory review and approval.
Under the terms of the agreement, Kraft Heinz will sell production facilities located in California, New York and Wisconsin as well as a distribution center in Wisconsin. These facilities are being sold as a going concern and all employees will retain their positions. Approximately 750 employees will be transferred from Kraft Heinz to Groupe Lactalis. The transaction will include Kraft Heinz’s Natural, Snacking, Grated, Cultured and Specialty cheese businesses in the U.S.
The Paul, Weiss team includes, among others, corporate partners Jeffrey Marell, Scott Barshay, Kyle Seifried, David Carmona and Caith Kushner; intellectual property partner Claudine Meredith-Goujon; tax partner Jeffrey Samuels and counsel Alyssa Wolpin; real estate partner Peter Fisch; employee benefits partner Lawrence Witdorchic and counsel Jarrett Hoffman; environmental counsel William O'Brien; and antitrust counsel Marta Kelly.