Mondelez puts cheese spread Philadelphia up for sale

Mondelez puts cheese spread Philadelphia up for sale

Food group Mondelez is likely to sell cheese spread brand Philadelphia if it can find a buyer that wants to spend some 3 billion dollars (2.75 billion euro). 

Kraft Heinz shows interest

The possible sale has brought the brand to the attention of newly-merged Heinz and Kraft. If the deal goes through, Philadelphia's former owner would regain control of the brand: Mondelez was part of Kraft until 2012 and acquired the European rights to Philadelphia back then. Kraft currently has the rights in the United States and Canada.

 

Mondelez wants to sell Philadelphia because it wants to focus on its (more profitable) snack branches. The company is also preparing a merger with DE Master Blenders, although that deal still has to get approval from the European Commission. 

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