04:00 AM EDT, 07/10/2025 (MT Newswires) -- Kraft Heinz ( KHC ) said Thursday it has agreed to sell its infant and specialty food business in Italy to NewPrinces.

The deal has an enterprise value of 120 million euros ($140.8 million) on a cash-free and debt-free basis, NewPrinces said in a separate statement.

The transaction's closing is expected at the end of 2025, pending regulatory approvals, the companies said.

Under the agreement, NewPrinces will purchase the infant food brands Plasmon, Nipiol and Dieterba, and specialty food brands Aproten and Biaglut, as well as Kraft Heinz's ( KHC ) 300-employee production facility in Latina, Italy, the companies said.

Kraft Heinz ( KHC ) said it is now entering a mandatory consultation period with labor representatives in Italy.