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In August 2011, Kraft Foods announced plans to split into two publicly traded companies, an international snack-food company and a North American grocery company. [22] [23] The snack-food company, called Mondelez International, would be the legal successor of the old Kraft Foods, while the grocery company would be a new company, Kraft Foods Group.
In November 2007, Kraft agreed to sell its cereal unit to Ralcorp Holdings, a major private-label food maker, for $2.6 billion in a form of a spin-off merger. This would add 50% to Ralcorp's sales, to $3.3 billion, and will be used for Kraft's debt payment, which was at $13.4 billion, in danger of a downgrade by Standard and Poor's.
22,500 (2015) Parent. Kraft Heinz. Website. kraftheinzcompany.com. Kraft Foods Group, Inc. (doing business as Kraft Foods Group) was an American food manufacturing and processing conglomerate, [2] split from Kraft Foods Inc. on October 1, 2012, and was headquartered in Chicago, Illinois. It became part of Kraft Heinz on July 2, 2015.
A year after announcing the split of Kraft Foods (NAS: KRFT) into two separate entities, investors finally got a peek at its first earnings results. The now-separate international unit, Mondelez ...
Kraft was formed in the October 2012 breakup of Kraft Foods, when it was spun off from the parent company, which then changed its name to Mondelez International. Mondelez retained the parent ...
Towards the end of November food giant J.M. Smucker held its earnings conference call. Sales and free cash flow declined 4% and 70% respectively . Lower prices and a lower level of accounts ...
In August 2011, Kraft Foods announced an intention to split into two publicly traded companies; a new company called Kraft Foods Group (later merged with Heinz), and Mondelēz International (the original Kraft Foods Inc. renamed) which would retain the Nabisco subsidiary and brands such as Belvita. [10] The split occurred in October 2012. [11] [12]
In 2007, Kraft Foods Inc. spun off from Altria (ex Philip Morris), [6] [7] taking Nabisco (and other brands including Terrabusi) with it. Five years later, Kraft Foods split its business into two food companies, Kraft Foods (a new company but keeping the 'Kraft' name, focused on the local market) and Mondelez International (worldwide market).