- Kraft Heinz Co KHC has agreed to acquire Companhia Hemmer Indústria e Comércio, a Brazilian company focused on condiments and sauces, for an undisclosed sum.
- Kraft Heinz expects the acquisition to support the strategy of growing its International Taste Elevation product platform and its presence in emerging markets.
- Kraft Heinz foresees the addition of more than 250 meal-enhancing products to accelerate its Taste Elevation strategy in Brazil.
- The completion of this transaction is subject to regulatory approvals by CADE (Brazil's Administrative Council for Economic Defense).
- Kraft Heinz held $3.9 billion in cash and equivalents as of June 30, 2021.
- Price Action: KHC shares traded higher by 1.09% at $36.52 on the last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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