Gravox, Fountain added to Kraft’s pantry

Kraft HeinzTomato sauce brand Fountain and gravy label Gravox are among a suite of brands sold to US food giant Kraft Heinz in a $A290 million deal.

The Australian and New Zealand brands are part of the Cerebos food and instant coffee business, which was offloaded to Kraft by Japan’s Suntory Group, along with Asian Home Gourmet Singapore.

The sale of Cerebos – whose brands also include Saxa, Gregg’s and Bisto – is expected to be completed in early 2018, subject to regulatory approvals. Suntory will retain the Cerebos Fresh Coffee business in Australia and New Zealand, which includes specialty coffee roaster Toby’s Estate.

The group said food and instant coffee are not core categories for Suntory and would benefit from being part of the Kraft Heinz group.The Kraft Heinz Company, the fifth-largest food and beverage company in the world, owns high profile food brands Heinz, Kraft, Wattie’s, Eta and Golden Circle.

Kraft Heinz owned classic Australian spread Vegemite until 2012 when Mondelez International was formed from a split from Kraft. Mondelez sold Vegemite and Kraft peanut butter and sliced cheese to Australian dairy company Bega Cheese in January this year.

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