The European Commission announced it has extended the time
limit on its inquiry into Kraft's proposal to purchase
Danone's biscuit division, after both parties submitted new
information relevant to the deal.
Kraft Foods will drive down costs by $1bn (€732m), rejig its global
portfolio, and exploit its sales capabilities, in a bid to make the
company more profitable, the company's top executive stated at a
conference this week.
Kraft explains its approach to health and wellness in the second of
a series of FoodNavigator-USA.com articles examining the practices
of major US food firms in the face of a growing need to address
human nutrition.
Kraft may be selling the US based cereals business for as much as
$3bn (€2.2bn), because of pressure from new legislation in regards
to advertising to children, according to a report by the Wall
Street Journal.
US snack giant Kraft has announced new initiatives which, it
claims, will enable the company to hit long-term targets and
reverse its recent revenue downturn.
US Food giant Kraft has completed its acquisition of United
Biscuits' Iberian biscuit sector in a $1.07bn (€836m) deal that
will increase its already-strong presence in Europe.
Leading food manufacturer Kraft has paid £575m (€829.6m) for United
Biscuit's southern European snack business. The deal was signed off
over the weekend, said British daily The Financial Times.
American manufacturer Kraft will make a bid for United Biscuit's
southern European division, while Premier Foods and a Dutch equity
firm negotiate for stakes in UB's northern European operations.
US food firm Kraft has launched a customer-led research and
development programme, in a bid to re-engage with consumers and tap
growing health and wellness trends.
Kraft Foods has recorded stable first quarter results, masking
falling operating income with a favourable tax settlement and
raising prices to combat spiralling production costs.
