Kraft to sell five factories
Kraft Canada Inc. said it agreed to sell some product lines and five factories to a group led by two private-equity firms for an undisclosed sum, according to the Associated Press. The product lines have estimated 2005 revenue of $260 million. They are Aylmer tomatoes, vegetable, fruits, soup and beans; Primo pasta, sauce, soup, tomatoes, beans and other products; Il Migliore and Roma foodservice pasta; and the Canadian licensing rights for certain Del Monte products. The five factories are in St. David''s, Dresden, Exeter and Toronto, Ontario; and in Chambly, Quebec. The buyers — private investment firm Sun Capital Partners of Boca Raton, Fla., and EG Capital Group LLC — are handling the purchase through a newly formed company, expected to be named CanGro Foods.