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Kraft to sell Canada natural cheese business to Parmalat

Kraft Heinz Co has agreed to sell its Canadian natural cheese business to Parmalat SpA in a C$1.62 billion ($1.23 billion) deal that will help Kraft trim its debt and extend the North American footprint of Parmalat owner Lactalis, Reuters says.

Parmalat’s acquisition in Canada marks a further addition to the North American footprint of France’s Lactalis, the world’s largest dairy firm that controls nearly 90 percent of Parmalat.

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