Gravox, Saxa, Fountain brands sold to US giant Kraft in $290m deal

Classic food brands Fountain, Gravox and Foster Clark’s have been sold to US food giant Kraft Heinz in a $290 million deal.The Australian and New Zealand brands are part of the Cerebos food and instant coffee business being offloaded 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. Sydney Morning Herald – Read more…