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"This marks an important milestone in driving our strategy across Europe and the Pacific, enabling us to fuel investment and growth in our core areas," said Willem Brandt, President, Europe and Pacific Developed Markets at Kraft Heinz.The transaction aligns with Kraft Heinz’s strategy to focus on its "Accelerate platforms," which include HEINZ Tomato Ketchup and other Taste Elevation products such as mayonnaise, table sauces, and pasta sauces.NewPrinces Group, formerly known as Newlat Food, rebranded following its acquisition of Princes Limited in 2024. Its portfolio includes brands such as Princes, Napolina, Delverde, Branston beans, and Flora.Kraft Heinz has entered a mandatory consultation period with local unions in Italy regarding the transaction, according to the press release statement. InvestingPro analysis suggests the company is currently undervalued, with additional ProTips and detailed financial metrics available in the comprehensive Pro Research Report, covering what matters most for informed investment decisions. InvestingPro analysis suggests the company is currently undervalued, with additional ProTips and detailed financial metrics available in the comprehensive Pro Research Report, covering what matters most for informed investment decisions.
The deal includes the sale of infant food brands Plasmon, Nipiol and Dieterba, as well as specialty food brands Aproten and Biaglut. NewPrinces will also acquire Kraft Heinz’s production facility in Latina, Italy, which manufactures products for some of these brands.
The Latina factory, located in central Italy, employs approximately 300 people and produces around 1.8 billion biscuits annually for the Plasmon brand. According to the company, the factory and its employees will continue normal operations under NewPrinces ownership after the transaction completes.
"This marks an important milestone in driving our strategy across Europe and the Pacific, enabling us to fuel investment and growth in our core areas," said Willem Brandt, President, Europe and Pacific Developed Markets at Kraft Heinz.
The transaction aligns with Kraft Heinz’s strategy to focus on its "Accelerate platforms," which include HEINZ Tomato Ketchup and other Taste Elevation products such as mayonnaise, table sauces, and pasta sauces.
NewPrinces Group, formerly known as Newlat Food, rebranded following its acquisition of Princes Limited in 2024. Its portfolio includes brands such as Princes, Napolina, Delverde, Branston beans, and Flora.
Kraft Heinz has entered a mandatory consultation period with local unions in Italy regarding the transaction, according to the press release statement.
In other recent news, Kraft Heinz announced it will phase out artificial colors from its U.S. products by the end of 2027, with immediate cessation of launching new products containing synthetic dyes. Nearly 90% of its U.S. product sales are already free from these artificial colors, aligning with broader industry trends and health initiatives. Furthermore, the company is working with brand licensees to encourage the removal of artificial colors from licensed products. Kraft Heinz also disclosed an executive transition, with Marcos Eloi Lima stepping down as Executive Vice President and Chief Procurement and Sustainability Officer. Janelle Aydin will assume this role starting August 1. Additionally, Kraft Heinz has amended its $4 billion revolving credit facility, extending the maturity date to 2030. This amendment, in collaboration with JPMorgan Chase Bank, includes revisions to the financial covenant. These developments reflect Kraft Heinz’s ongoing strategic adjustments and commitments to sustainability and financial management.
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