Kraft Foods shareholders have approved the name Mondelez International as the new name for the company’s global snacks business after it splits into two separate companies later this year.
Kraft Foods will decide tomorrow whether to change the name of its global snacks spin-off to Mondelez International in a vote at its Annual Shareholder Meeting.
Kraft Foods is off to a solid start to 2012 in its first quarter (Q1) results driven by sales growth in global biscuits and chocolate and strong performance in emerging markets.
Risks remain for Kraft Foods ahead of its planned split as it is squeezed by commodity costs, but it will sustain growth in 2012, according to the rating agency Standard and Poor’s (S&P).
Kraft Foods has voluntarily recalled one date code of its Planters Cocktail Peanuts because the products may have been exposed to water not intended for use in food.
Kraft Foods is launching what it claims is a category first, as it rolls out new MilkBite Milk & Granola bars in the US that contain real milk in a granola bar form.
Kraft Foods is the likeliest candidate for Procter & Gamble’s Pringles brand after a deal with Diamond Foods looks lost, though other candidates may be lurking, according to analysts.
Kraft Foods has said it will cut about 1,600 jobs from its US and Canadian workforce over the next 12 months, as it prepares to split into two separate companies.
UK-based United Biscuits (UB) may have attracted bidders from Asia and major companies like Kraft and PepsiCo amid rumours the company has split its operations into a snacks and biscuit division, according to an analyst.
Food giant Kraft has announced plans to introduce BelVita breakfast biscuits to the US market following European success and plans a string of other snacks product launches in 2012 to appeal health conscious consumers.
The vast majority of Kraft Foods’ carbon emissions come from outside its manufacturing facilities, according to a survey mapping its environmental footprint, but the full picture may look quite different as full results are withheld.
