FACTBOX: Facts about Kraft Foods

Mon Nov 9, 2009 3:04pm GMT
 
Email | Print | | Single Page
[-] Text [+]

(Reuters) - Kraft Foods formalized its bid for Cadbury Plc on Monday, submitting to shareholders an offer already rejected by the British chocolatier.

Following are facts about Kraft:

* Kraft is the world's second-largest food group, after Nestle.

* The company's origins date to 1903, when James L. Kraft began a business selling cheese from the back of a wagon in Chicago, Illinois. In 1914 the company started making its own cheese.

* Kraft was acquired by tobacco corporation Philip Morris in 1988 for $12.9 billion.

* In 2000, Philip Morris bought Nabisco, the maker of Oreo cookies, for $19.2 billion, and merged it with Kraft.

* Kraft Foods Inc was listed on the New York Stock Exchange in 2001, with the spin-off completed in 2007.

* In 2007, Kraft bought the cookie business of Danone -- which includes well-known French brand LU -- for $7.2 billion. When the bid was announced, French Economy Minister Christine Lagarde is reported to have said: "We are not yet ready to put ketchup on our petits LU."

* Kraft still sells cheese singles under the Kraft brand in some countries, including Britain, while in North America the Kraft brand adorns packets of macaroni and cheese.  Continued...

 

Most Popular General News on Reuters UK

  • Articles
  • Videos