Kraft Heinz Partners With Upstate NY Cooperative On Plant Facility, Maintains 125 Jobs

By Tonya Garcia Markets MarketWatch Pulse

Kraft Heinz Co. said Friday that it will sell its cheese plant in Campbell, NY to the Upstate Niagara Cooperative, but will invest in improvements and maintain 125 jobs at the facility. The food company has entered into a co-packing agreement with the cooperative. The deal is expected to close in the next 30 to 60 days. Kraft Heinz will invest $3 million to $5 million for upgrades to the plant and Kraft Heinz says the staff roster could grow to 150. Kraft Heinz shares are up 0.2% in premarket trading, but are down 3.1% for the past year. The S&P 500 index is up 15.3% for the last 12 months.

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