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.
US manufacturer Kraft Foods has announced a "fewer, bigger, better"
policy, concentrating on crucial brands in key areas as the firm
suffers from lagging performance.
US manufacturer Kraft Foods has announced a massive extension to
its three-year restructuring plan that will see a further 8,000
jobs and 20 production plants go, as the company absorbs rising
energy and ingredient costs.
Kraft Foods, the US snack and dairy firm, has agreed to remove all
genetically modified ingredients from its products in China, in a
sign anti-GM attitudes are on the increase.
