Kraft Foods has sold its salted snacks business in Scandinavia and the Baltic states to a Norwegian private equity fund, it was announced today (6 August).
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Herkules Private Equity Fund has struck a deal to buy the business, which includes three production facilities and brands like Maarud and Estrella.
The private equity group said salted snacks was not a “key category” for Kraft. Managing partner Gert Munthe said: “We see great potential in releasing the power of the brands Maarud and Estrella and the many highly-skilled employees in the company.”
Herkules will take on production sites in Norway, Sweden and Lithuania as part of a business that is the number one potato chip maker in those countries.
Financial details were undisclosed.
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By GlobalDataOfficials for Kraft in the region could not be reached for immediate comment.
