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Industry NewsCompetition Bureau clears Parmalat's $1.6 billion Kraft Heinz cheese purchase

Competition Bureau clears Parmalat’s $1.6 billion Kraft Heinz cheese purchase


The Competition Bureau says it will not oppose the $1.6 billion sale of Kraft Heinz Canada’s natural cheese division to Parmalat.

According to news reports, the federal agency says it conducted a review with key market participants, including grocery retailers, food service companies, regulators, industry associations and cheese processors. 

And for the first time since 2009 amendments to the Competition Act, the bureau obtained a Federal Court order requiring executives of the merging entities to be interviewed under oath by bureau investigators, according to news stories in Financial Post and BNN Bloomberg.

The deal would see Parmalat Canada take over cheese brands Cracker Barrel, P’tit Quebec and Amooza.

It would also include the purchase of Kraft’s Ingleside, Ont., processing plant, which employs nearly 400 people who would be transferred to Parmalat.

Kraft Heinz and Parmalat agreed to the deal in November, 2018.


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