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Kraft Foods

Kraft Foods Inc.
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Kraft Foods Logo
Public (NYSE: KFT)
Founded1903
HeadquartersNorthfield, Illinois, USA
Key peopleIrene Rosenfeld, CEO
IndustryFood Processing [1]
ProductsSee brands listing.
Revenue $34.356 billion USD (2006)
Net income $3.06 billion (2006)
8.9% profit margin
Employees90,000 (2006)
Websitewww.kraft.com


Kraft Foods Inc. (NYSE: KFT) is the largest food and beverage company headquartered in North America and the second largest in the world after Nestlé SA.

The Philip Morris Company (now known as Altria Group), a company that produces tobacco products, acquired Kraft for $12.9 billion in 1988, eventually merging it with another food subsidiary, General Foods, which it had acquired in 1985. In 2000, Philip Morris acquired Nabisco and merged it with Kraft. Altria sold 280 million Kraft shares via an initial public offering in 2001, retaining an 88.1% stake. On January 31, 2007, after months of speculation, the company announced that its 88.1% stake would be spun off to Altria shareholders, however the exact date is not expected to be announced until January 2008[1]

Kraft is headquartered in Northfield, Illinois, USA, a Chicago suburb. Kraft Foods markets many popular brands in more than 155 countries.

Kraft Foods is named after James L. Kraft, who founded the original wholesale cheese business in 1903.

Kraft Foods in the news

In 1992, the gelatin industry, in particular Kraft's Atlantic Gelatin plant in Woburn, Massachusetts, which supplies the vast majority of Jell-O, came under scrutiny for a history of noxious smells, toxic waste releases into Boston Harbor, and a policy of corporate secrecy. Heading off a rash of local complaints, industry lobbyists invited Massachusetts state representatives Paul Casey and Carol Donovan into the plant. However, the representatives were barred from going past the conference room. Repeated requests for a plant tour by journalists were refused. In 1993, the plant was hit with a $250,000 fine for violating the Clean Air Act of 1970. In a February 4 1996 article, the Associated Press reported that a Massachusetts Department of Environmental Protection official was one of only a few outsiders who had seen the inside of the Woburn plant. In 2005, Kraft was sued for spamming its Gevalia coffee brand by Hypertouch, an ISP. Kraft was accused of sending multiple waves of spam to the ISP, and the action brought under the CAN-SPAM Act of 2003 act. At the time of writing, the suit had not yet been ruled upon.[2]

Kraft began a major restructuring process in January 2004, following a year of declining sales, (blamed largely on the rising health consciousness of Americans), and the sacking of co-CEO Betsy Holden. The company announced closures of 19 production facilities worldwide and the reduction of 5500 jobs, as well as the sale of 10% of its branded products. Kraft Foods expects to eliminate 8000 jobs, roughly 8% of its workforce.

Acquisitions

Then Kraft Foods sold several brands after its Nabisco merger. It sold Lifesavers Co. to Wrigley, its certain Canada grocery items, particularly Del Monte and Aylmer to CanGro, its sugar confectionery business and its pet snacks business under the Milk-Bone brand to Del Monte Foods.

Kraft bought several brands parallel to its portfolio, like Boca Burger Co., which makes Boca meat alternatives, Fruit2o, and Veryfine beverages.

Altria announced on January 31, 2007, that it will sell all the remaining Kraft Foods shares to Altria's shareholders; each will be given 0.7 share of Kraft for every Altria share they have.

Investor Nelson Peltz bought a three-percent stake at Kraft Foods and is talking with the executives on revitalizing the business,[3] with options such as buying Wendy's fast food chain or selling off Post cereals and Maxwell House coffee.[3]

In July 2007, the company bought Groupe Danone's biscuit (cookie) and cereal division for $7.2 billion.[3][4] While two years earlier firestorms of protest had arisen over plans for American PepsiCo's hostile takeover of the French company, Kraft's announcement was not met with the same protests, although a possible deal comes with strings: promising not to close French factories and keep the cookie headquarters near Paris for at least three years.[3] Kraft is much more powerful in the US than in foreign markets.[3]

Sponsorships

Kraft Foods is an official partner and sponsor of Major League Soccer and sponsors the Kraft Nabisco Championship, one of the four "majors" on the LPGA tour.

Brands

Kraft Foods' core businesses are in beverage, cheese and dairy, snackfoods and confectionery, convenience foods and cereals.

Notable products produced by Kraft Foods are

Former Brands

See also

References

1. ^ Altria Continues its Breakup (2007-08-31). Retrieved on 2007-09-03.
2. ^ Kraft sued over Gevalia spam
3. ^ No ketchup, please. The Economist (2007-07-05). Retrieved on 2007-07-17.
4. ^ Getting better?. The Economist (2007-07-12). Retrieved on 2007-07-22.

External links



Kraft brands
Capri Sun | Crystal Light | Dairylea | General Foods | Jell-O | Kool-Aid | Kraft Dinner | Maxwell House | Oscar Mayer | Post Cereals | Tang | Toblerone | Vegemite
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Northfield is a village in Cook County, Illinois, United States. It is located approximately 19 mi (30 km) north of Chicago. As of the 2000 census, the village population was 5,389.

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Irene Rosenfeld is the 53-year-old CEO of Kraft Foods Inc., having been appointed June 26, 2006.

Rosenfeld had spent more than 20 years with Kraft and General Foods before joining Frito-Lay, a division of PepsiCo, in 1994, and rejoining Kraft as president of Kraft Canada in
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Food processing is the set of methods and techniques used to transform raw ingredients into food for consumption by humans or animals. The food processing industry utilises these processes.
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Nestlé S.A.

Public (SWX: NESN , OTCBB: NSRGY )
Founded Vevey, Switzerland (1866)
Headquarters Vevey, Switzerland

Key people Henri Nestlé, Founder
Peter Brabeck-Letmathe, Chairman & CEO
Industry Food processing
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Altria Group, Inc

Public
Founded 1860 London, UK
Headquarters New York City, USA

Key people Louis Camilleri, CEO & Chairman
Dinyar Devitre, CFO
Industry Tobacco, Food, Beverage
Products See below
Revenue $101.
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Tobacco is an agricultural product processed from the fresh leaves of plants in the genus Nicotiana.

Tobacco has been growing on the American Continent since about 6000 BC and began being used by native cultures at about 3000 BC.
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General Foods Corporation was a company whose direct predecessor was established in the USA by Charles William Post (October 26, 1854 - May 9, 1914) as the Postum Cereal Company in 1895. The name General Foods was adopted in 1929, after several corporate acquisitions.
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Nabisco

Public (NYSE:  KFT )
Founded East Hanover, New Jersey (1898)
Headquarters Hanover, New Jersey

Key people Philip Morris
Industry Food processing
Products Cookies, crackers, light chips
Website www.nabisco.
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