Kraft Foods, Inc.
 |
|
| Subsidiary | |
| Industry | Food processing |
| Fate | Merged with Heinz |
| Successor | Kraft Heinz |
| Founded | October 1, 2012 |
| Defunct | July 1, 2015 |
| Headquarters | Northfield, Illinois, U.S. |
|
Area served
|
Worldwide |
|
Key people
|
John Cahill (Chairman and CEO) |
| Products | List of products |
| Revenue |
 US$ 18.218 billion (2013) |
 US$ 4.591 billion (2013) |
|
|
US$ 2.715 billion (2013) |
|
| Total assets |
US$ 23.148 billion (2013) |
| Total equity |
US$ 5.187 billion (2013) |
|
Number of employees
|
23,000 (2012) |
| Website | www |
Kraft Foods Group, Inc. was an American manufacturing and processing conglomerate headquartered in the Chicago suburb of Northfield, Illinois.
It markets many brands in more than 170 countries. 12 of its brands annually earn more than $1 billion worldwide: Cadbury, Jacobs, Kraft, LU, Maxwell House, Milka, Nabisco, Oreo, Oscar Mayer, Philadelphia, Trident, Tang. Forty of its brands are at least a century old.
The company was restructured in 2012 as a spin off from Kraft Foods Inc., which in turn was renamed Mondelēz International. The new Kraft Foods Group was focused mainly on grocery products for the North American market while Mondelēz is focused on international confectionery and snack brands. Until the merger with Heinz, Kraft Foods Group was an independent public company listed on the NASDAQ stock exchange.
On July 2, 2015, Kraft completed its merger with Heinz, arranged by Heinz owners Berkshire Hathaway and 3G Capital, creating the fifth-largest food and beverage company in the world, Kraft Heinz Company.
In August 2011, Kraft Foods Inc. announced plans to split into two publicly traded companies—a snack food company and a grocery company.
On April 2, 2012, Kraft Foods Inc. announced that it had filed a Form 10 Registration Statement to the SEC to split the company into two companies to serve the "North American grocery business."
On October 1, 2012, Kraft Foods Inc. spun off its North American grocery business to a new company called Kraft Foods Group, Inc. The remainder of Kraft Foods Inc. was renamed Mondelēz International, Inc. and was refocused as an international snack and confection company.
On November 19, 2013, it was ruled that Starbucks will have to pay Kraft Foods Inc. $2.7 billion because of an early contract termination. The money will go to Mondelēz International, Inc.
On March 25, 2015, Kraft Foods Group Inc. announced that it would merge with the H.J. Heinz Company, owned by 3G Capital and Berkshire Hathaway Inc, to form the world's fifth-largest food and beverage company. Kraft's shares rose about 17 percent in premarket trading after the announcement of the deal, which will bring Heinz back to the public market following its takeover two years ago. The companies completed the merger on July 2, 2015.
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Wikipedia