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Kraft Foods to split into two separate companies Print

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.
Kraft noted that it had made a number of strategic acquisitions in the snacking sector over the past several years, including that of Danone?s LU biscuit brand and UK-based confectionery maker Cadbury. It estimated that as an independent company its global snacks business would generate revenue of about $32bn. Key brands would include Oreo and LU biscuits, Cadbury and Milka chocolates, Trident gum, Jacobs coffee, and Tang powdered beverages.
Meanwhile, its North American grocery business, which includes brands such as Kraft macaroni and cheese, Oscar Mayer meats, Philadelphia cream cheese, and Maxwell House coffee, would have estimated revenue of about $16bn, the company said.
Chairman and CEO Irene Rosenfeld said in a statement: "We have built two strong, but distinct, portfolios. Our strategic actions have put us in a position to create two great companies, each with the leadership, resources and strong market positions to realize their full potential.
The company said it aims to launch the two new companies by the end of 2012.
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