Kraft Heinz (KHC) is selling its Italian baby and specialty food business to NewPrinces, the Italy-based buyer said Wednesday.
The enterprise value of the transaction is 120 million euros ($140 million), on a cash free and debt free basis, NewPrinces said. It expects to complete the transaction by H2.
The company said the deal includes the Plasmon plant in Latina, and the Plasmon, Nipiol, BiAglut, Aproten and Dieterba brands.
Kraft Heinz did not immediately respond to MT Newswires' request for comment.
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