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Kraft Foods Inc. (/ ˈ k r æ f t /) was a multinational confectionery, food and beverage conglomerate. [4] It marketed many brands in more than 170 countries. Twelve of its brands annually earned more than $1 billion worldwide: Cadbury, Jacobs, Kraft, LU, Maxwell House, Milka, Nabisco, Oreo, Oscar Mayer, Philadelphia, Trident, and Tang. [5]
The boards of both companies agreed to the merger of Kraft Foods and H.J. Heinz, with approval by shareholders and regulatory authorities in early 2015. [10] [11] The new Kraft Heinz Company became the world's fifth-largest food and beverage company [12] and the third-largest in the United States.
On March 25, 2015, Kraft announced its merger with Heinz, arranged by Berkshire Hathaway and 3G Capital. [9] [10] The resulting Kraft Heinz Company is the fifth largest food company in the world. [11] Berkshire Hathaway became a majority owner of Heinz on June 18, 2015.
Kraft Foods Group, Inc. was an American food manufacturing and processing conglomerate, [2] split from Kraft Foods Inc. on October 1, 2012, and was headquartered in Chicago, Illinois. It became part of Kraft Heinz on July 2, 2015.
It was structured so that Kraft Foods changed its name to Mondelez International and spun off Kraft Foods Group as a new publicly traded company. [25] Kraft Foods Group later merged with Heinz to become Kraft Heinz. [24] In 2014, the company announced a merger of its coffee business with the Dutch firm Douwe Egberts. [26]
An agreement between Kraft Foods and SodaStream in 2012 made Kool-Aid's various flavors available for consumer purchases and use with SodaStream's home soda maker machine. [5] There is an active scene of Kool-Aid collectors. A rare old Kool-Aid package can be traded for up to several hundred dollars on auction websites. [6]
In 2011, Hormel Foods announced a two-for-one stock split. [42] In 2013, Hormel Foods purchased Skippy—the best-selling brand of peanut butter in China and the second-best-selling brand in the world—from Unilever for $700 million; the sale included Skippy's American and Chinese factories. [43]
In 2005, Wrigley purchased Life Savers and Altoids from Kraft Foods for US$1.5 billion. [9] On January 23, 2007, Wrigley signed a purchase agreement to acquire an 80% initial interest in A. Korkunov for $300 million with the remaining 20% to be acquired over time.
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