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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]
In 1981, Oscar Mayer stockholders elected to sell the company to General Foods. [5] Four years later, Philip Morris acquired General Foods, and in 1989 merged General Foods with the newly acquired Kraft Foods transforming it into Kraft General foods. Shares of Kraft Foods were first offered to the public via an initial public offering in 2001.
General Foods Corporation was a company whose direct predecessor was established in the United States by Charles William (C. W.) Post as the Postum Cereal Company in 1895.. The company changed its name to "General Foods" in 1929, after several corporate acquisitions, by Marjorie Merriweather Post after she inherited the established cereal business from her father, C. W. Post.
In August 2011, Kraft Foods announced plans to split into two publicly traded companies, an international snack-food company and a North American grocery company. [22] [23] The snack-food company, called Mondelez International, would be the legal successor of the old Kraft Foods, while the grocery company would be a new company, Kraft Foods Group.
James Lewis Kraft (/ ˈ k r æ f t /; December 11, 1874 – February 16, 1953) was a Canadian-American entrepreneur and inventor and the founder of Kraft Foods Inc. Kraft immigrated to the United States from Canada in 1902.
On December 1, 2023, a federal jury in Illinois awarded $17.8 million to several large food companies, including Kraft Heinz, in a lawsuit against Cal-Maine Foods, Inc. and others over allegations of egg price fixing. Cal-Maine Foods, contesting the verdict, insists on its innocence and the absence of wrongdoing in its business practices. [67]
However, in 1985, General Foods was acquired by Philip Morris, which proceeded to lay off most of that location's employees in 1987. Then in 1989 General Foods merged with Kraft Foods Inc. to form "Kraft General Foods" where it remained in its White Plains, NY Headquarters until the mid 1990s when it moved to Northfield Illinois. [11] [12]
In August 2011, Kraft Foods Inc. announced plans to split into two publicly traded companies — a snack food company and a grocery company. [8]On April 2, 2012, Kraft Foods Inc. announced that it had filed a Form 10 Registration Statement to the SEC to split the company into two companies to serve the "North American grocery business".