Kraft foods marches on with its plans to spinoff its north. Kft will spin off of its north american grocery business after the market closes today, a move intended to let it focus on its global snack brands. In anticipation of a split into a north american grocery company and a global snacks company by the end of 2012, kraft foods inc. The company believes that creating two public companies would offer a number of opportunities. Kraft decided the grocery business would retain the kraft name, and rather than hiring an ad agency or marketing firm to come up with a new name for the snack foods company, it held a. The kraft cookbook 75 years of good food ideas kraft editors on. Under her leadership, kraft, already the largest foodproducts company in the united states, expanded its holdings abroad and radically reorganized the marketing of its vast array of snack and grocery brands.
Conagra foods said it would separate into two public companies, one to focus on its consumer brands and the other on its frozen potato business. Kraft foods, which makes oscar mayer hot dogs and lunch meats, says it will split into two companies, one for its north american groceries business and the other for international. Kraft foods plans to split into two publicly traded companies. Kraft announces split, 18 months after cadbury buy reuters. Mondelez is new name for krafts snack foods company the. Meals and desserts, and enhancers and snack nuts with the creation of these new business units, the company will be able to place even greater focus on brandbuilding while reducing the complexity of managing a portfolio with many. Kraft foods group announced today that it will create two new business units to help the grocery company better manage its brands. Kraft, the us food conglomerate, has announced plans to split itself in two and give independence to its fastgrowing international snacks business, of which britains cadbury is a. Kraft foods chief explains split from altria kraft foods maker of jello, oreos and velveeta cheese is breaking with its parent company, altria group, once known as philip morris. Image caption kraft bought uk chocolate maker cadbury last year. Yet the north american grocery business that now trades as kraft foods group. Kraft is the second massive food company split this year. Us food giant kraft has announced plans to split into two independent companies by the.
Kraft foods, in split, is keeping oreos but not velveeta. Meals and desserts, enhancers and snack nuts business units formed to create more focused, less complex businesses. Kraft foods net income rose percent in the companys fist earnings report following a recent split from its snack division. Why kraft split into two companies kraft foods ceo irene rosenfelds broke up the food giant into two separate companies by separating its snack foods lines from its grocery brands. General foods has been in many ways the prototypical american food processor. Breaking up is hard to do, unless youre kraft foods. Kraft foods announces intent to create two independent. Kraft foods to split into two companies the christian post. The business units are being created by dividing the brands in the companys grocery segment into two standalone business units. Kraft foods says it will split in two, spinning off one company to target fastgrowing emerging markets with its global snacks portfolio and another to focus on its us grocery business.
Kraft foods group announces creation of two new business units meals and desserts, enhancers and snack nuts business units formed to create more focused, less complex businesses. Wfm announced today that it approved a twoforone stock split of the companys outstanding common stock to be effected through a stock dividend. The company expects the split to take about a year and should be completed by the end of 2012. Mdlz is a world leader in chocolate, biscuits, gum, candy, coffee and powdered beverages. Rosenfeld believed that the snack food company would be a high growth, international business while the grocery company would be a stable but slow growth business. A meals and desserts unit will house labels including cool whip. Kraft foods looks like a buy after split announcement. Kraft foods announces creation of two new business units. After years of mergers and takeovers, kraft foods is undertaking its biggest deal yet. Conagra to split into two publicly traded companies cnbc. Kraft has officially split into two publicly traded companies. The original reason for the split was to allow mondelez to free. Worlds second biggest food company, kraft, approves spinoff. Kraft foods is looking to redefine itself following the loss of.
Kraft foods group is a consumer packaged food and beverage company. Mondelez international completes spinoff of its north. That must be why kraft has decided to split global snacks and confectionary and north american groceries creating a uturn in strategy just 18 months after buying cadbury in a. Kraft announces split, 18 months after cadbury buy. Kraft to slice its food business in two business the. The split was structured so that kraft foods changed its name to mondelez international and spun off kraft foods group as a new publicly traded company. Kraft foods plans to split into 2 companies cbs news. Kraft foods has said it intends to split into two companies, in a move that would create a global snacks powerhouse separate from its north american grocery business. Kft today announced that its board of directors intends to create two independent public companies. The company comprises the global snacking and food brands of the former kraft foods inc. Whole foods announces a 2for1 stock split it also reported higher quarterly earnings and revenue by christopher freeburn, investorplace writer may 8, 20, 9. Whole foods announces a 2for1 stock split investorplace.
Kraft to split its snacks and grocery businesses the new. Kraft foods strong 2011 presents solid base for 2012 split. The move comes just 18 months after kraft s acquisition of cadbury plc, making kraft the second biggest global food company. Few companies in corporate america have as complicated a history as kraft foods, the owner of oreo cookies, ritz crackers and oscar mayer lunch meats. Us food giant kraft has announced plans to split into two independent companies by the end of next year. It has also historically applied leadingedge technology to its product.
The company announced thursday that it would split into two separately trading stocks in a taxfree spinoff to shareholders. Ceo 200617 of processedfoods giant kraft foods inc. The food giant said on thursday that it planned to split into two businesses. Krft today announced plans to create two new, standalone business units. Kraft foods names ceos to lead new grocery, snack units. The company was a pioneer in the acquisition and assimilation of smaller food companies and built a huge multinational, multiproduct corporation. Securities and exchange commission regarding its planned split into two. The long, strange history of kraft foods deal journal wsj.
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