Kraft Heinz To Acquire Brazilian Food Company Hemmer For Undisclosed Sum

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.