Kraft Heinz to divest infant, specialty food unit in Italy to NewPrinces at US$140M valuation

ITALY – The Kraft Heinz Company has reached a definitive deal to sell its infant and specialty food business in Italy to NewPrinces Group, in line with its strategy to focus on core brands and growth areas.

The proposed transaction is expected to close at the end of 2025, subject to regulatory review and approval.

According to NewPrince, the business, which also includes several smaller brands and a production plant in Italy, reported €170 million (approximately US$199 million) in revenue for 2024, with a core profit of €17 million (US$19.9 million).

Its enterprise value was set at € 120 million (approximately US$140.72 million).

The agreement will see NewPrinces purchase the infant food brands Plasmon, Nipiol and Dieterba, and specialty food brands Aproten and Biaglut. 

It also includes the purchase of Kraft Heinz’s production facility in Latina, Italy, which manufactures products for some of these brands.

“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, and enhance focus on our Accelerate platforms,” says Willem Brandt, President, Europe and Pacific Developed Markets, Kraft Heinz. 

The transaction supports Kraft Heinz’s strategy to drive profitable growth through its Accelerate platforms, which include HEINZ Tomato Ketchup and other “Taste Elevation” products, such as mayo, table sauces, culinary products, and pasta sauces. 

“It’s a great example of how we’re intentionally and proactively managing our portfolio to accelerate organic growth and drive sustainable, long-term value,” Willem added.

In Italy, HEINZ has continued to experience consistent growth across both retail and away-from-home channels, significantly increasing its market share in the Taste Elevation category.

Located in the Lazio region of central Italy, Kraft Heinz’s Latina factory employs around 300 people who make approximately 1.8 billion biscuits per year for Italy’s Plasmon brand.

The factory and its employees will continue to operate as usual under NewPrinces ownership after the transaction is completed.

“I’m confident this portfolio of iconic brands will thrive in the capable hands of the NewPrinces Group – a market leader in the food and beverage industry, including in specialised nutrition, with a strong Italian heritage and ambitious growth plans,” Carmela Bazzarelli, Managing Director, Kraft Heinz Italia, stated.

“We remain committed to Italy and growing our iconic HEINZ brand across the country,” Carmela added.

The Kraft Heinz Company was advised by Houlihan Lokey as financial advisor, and Chiomenti and Gibson Dunn as legal counsel. EY provided transaction support.

Kraft Heinz is now entering a mandatory consultation period with the local unions in Italy.

About NewPrinces Group

The NewPrinces Group is a specialised food and beverage company with a global supply network offering a wide range of branded and private label products across the UK and Europe. 

Formerly known as Newlat Food, the Group was rebranded as NewPrinces Group following its acquisition of Princes Limited in 2024. Its portfolio includes well-known brands such as Princes, Napolina, Delverde, Branston (beans), Flora, and more.

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