Kraft Heinz sells baby food business to Chernogolovka

AK&M 31 March 2023 19:14

Kraft Heinz is selling its baby food business in Russia to Chernogolovka Group of Companies. The Kommersant newspaper writes about this.

The deal includes the brands "Smart Girl", "Sami with a mustache" and enterprises in Georgievsk and Ivanovo. Chernogolovka will also be able to use the Heinz Baby brand during a "short" transition period. Kraft Heinz plans to close the deal in the summer of 2023 after its approval by regulators.

Kraft Heinz was created in 2015 as a result of the merger of Heinz and Kraft Foods, the largest shareholder is Warren Buffett's Berkshire Hathaway. The brand portfolio includes the brands Kraft, Heinz, Philadelphia, Maxwell House. Global revenue in 2021 — more than $26 billion, in 2022 – more than $26.4 billion.