Kraft Foods Plans to Split Into Two Companies

Kraft Foods Inc. is splitting in two, putting its global snacks and North American grocery businesses in separate baskets.

The surprise move, announced Thursday, comes after Kraft last year became the second largest global food company with its acquisition of Cadbury PLC.

Now 18 months into the Cadbury integration, Kraft says it finds itself with two classes of brands that can be best managed separately, and also attract investors who either want to bet on the global growth aspirations of snacks or on the slower growing but steady grocery business in North America.

"We have built two strong, but distinct, portfolios," Chief Executive Irene Rosenfeld said.

Read Full Article from Wall Street Journal

- Posted: 2011-08-04 10:08:28

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