Kraft foods names ceos to lead new grocery, snack units. Kraft foods group is a consumer packaged food and beverage company. Kraft foods announces intent to create two independent. Whole foods announces a 2for1 stock split investorplace. The company expects the split to take about a year and should be completed by the end of 2012. Kraft foods strong 2011 presents solid base for 2012 split. Us food giant kraft has announced plans to split into two independent companies by the end of next year. Securities and exchange commission regarding its planned split into two.
Kraft foods to split into two companies the christian post. Kraft has officially split into two publicly traded companies. The company comprises the global snacking and food brands of the former kraft foods inc. Kraft announces split, 18 months after cadbury buy. Kraft foods, in split, is keeping oreos but not velveeta. The company believes that creating two public companies would offer a number of opportunities. The long, strange history of kraft foods deal journal wsj.
Kraft foods announces creation of two new business units. 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. Whole foods announces a 2for1 stock split it also reported higher quarterly earnings and revenue by christopher freeburn, investorplace writer may 8, 20, 9. 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. 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. Meals and desserts, enhancers and snack nuts business units formed to create more focused, less complex businesses. 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. The food giant said on thursday that it planned to split into two businesses. The kraft cookbook 75 years of good food ideas kraft editors on. Kraft foods is looking to redefine itself following the loss of. Kraft foods plans to split into two publicly traded companies. 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. Kraft foods group announced today that it will create two new business units to help the grocery company better manage its brands. Kraft foods plans to spin off its north american grocery business from its global snacks group.
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. Conagra to split into two publicly traded companies cnbc. Kraft foods looks like a buy after split announcement. Kraft to slice its food business in two business the. Kraft foods net income rose percent in the companys fist earnings report following a recent split from its snack division. Mondelez international completes spinoff of its north. 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.
After years of mergers and takeovers, kraft foods is undertaking its biggest deal yet. The move comes just 18 months after kraft s acquisition of cadbury plc, making kraft the second biggest global food company. Kraft to split into confectionary and grocery businesses. General foods has been in many ways the prototypical american food processor.
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 to split its snacks and grocery businesses the new. The original reason for the split was to allow mondelez to free. Kraft foods marches on with its plans to spinoff its north. 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. 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.
Breaking up is hard to do, unless youre kraft foods. 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. Kraft foods to split company after market closes the. Mondelez is new name for krafts snack foods company the. In anticipation of a split into a north american grocery company and a global snacks company by the end of 2012, kraft foods inc. 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. Krft today announced plans to create two new, standalone business units. The company announced thursday that it would split into two separately trading stocks in a taxfree spinoff to shareholders. Kft today announced that its board of directors intends to create two independent public companies.
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. Yet the north american grocery business that now trades as kraft foods group. Kraft foods plans to split into 2 companies cbs news. Kraft is the second massive food company split this year. It has also historically applied leadingedge technology to its product. Kraft announces split, 18 months after cadbury buy reuters. A meals and desserts unit will house labels including cool whip. Ceo 200617 of processedfoods giant kraft foods inc. Us food giant kraft has announced plans to split into two independent companies by the. Wfm announced today that it approved a twoforone stock split of the companys outstanding common stock to be effected through a stock dividend. Worlds second biggest food company, kraft, approves spinoff. 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.
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