Parmalat buys Kraft cheese unit

TORONTO — Parmalat Group said it has reached an agreement valued at $1.62 billion to acquire Kraft Heinz Canada’s natural cheese division. The deal would see Parmalat Canada take stewardship of the cheese brands Cracker Barrel, P’tit Quebec and Amooza. It would also include the purchase of Kraft’s Ingleside, Ont., processing plant, which employs 400 people who would be transferred to Parmalat. — CP