Kraft Canada to Sell Canadian Assets
Posted on: Tuesday, 27 December 2005, 18:00 CST
Kraft Canada Inc. said Tuesday it was selling certain Canadian grocery assets to a group of investors.
The assets, which are being sold to affiliates of Sun Capital Partners Inc. and EG Capital Group LLC, will generate net revenues of approximately $256 million in 2005, Kraft said.
The proposed sale includes Aylmer tomatoes, vegetables, fruits, soup and beans; Primo pasta, sauce, soup, tomatoes, beans and other products; Ideal vegetables; Il Migliore and Roma foodservice pasta; and the Canadian licensing rights for a number of Del Monte products, including canned fruits and vegetables.
Kraft will retain the rights to the Del Monte line of beverages in Canada.
Source: United Press International
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