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Kraft Sells Rights To Food Brands In Canada

  • Brandweek, Wednesday, December 28, 2005 2 PM
Kraft Foods, in a continuing transformation of its product portfolio, is divesting itself of several grocery assets in Canada. The company said it is selling licensing rights for Del Monte canned fruit and vegetable products as well as Aylmer tomatoes, vegetables, fruits, soup and beans; Primo pasta, sauce, soup, tomatoes, beans; Ideal vegetables; and Il Migliore and Roma foodservice pasta. Kraft will retain the rights to the Del Monte line of beverages in Canada. The buyer is CanGro Foods, a new company owned by affiliates of Sun Capital Partners, Inc. and EG Capital Group, LLC. "These grocery products, which are unique to Canada for Kraft, are not strategically aligned with our overall portfolio," said Dino Bianco, president, Kraft Canada. "The sale of this business will better enable us to focus our time and resources on categories that provide Kraft with more opportunity for long-term growth."

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