By Colin Kellaher

Kraft Heinz Co. on Tuesday said it agreed to sell its B2B powdered-cheese business to Ireland-based food company Kerry Group PLC for an undisclosed amount.

Pittsburgh food giant Kraft Heinz said the sale, which is part of a portfolio optimization, includes a manufacturing plant in Albany, Minn.

Kraft Heinz said it expects to complete the sale by the end of the year, with employees of the plant transferring to Kerry Group.

The company didn't give any financial details of the transaction.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

August 30, 2022 08:39 ET (12:39 GMT)

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