U.S. food makers look overseas for faster growth

Kraft Foods Inc (KFT.N) said its recent acquisition of British chocolatier Cadbury Plc would accelerate long-term growth, even though it expects the deal to hurt 2010 results.

The largest North American food maker is already seeing erosion in its home turf, where organic revenue fell 2.7 percent in the fourth quarter. In developing markets, organic revenue rose 10.4 percent.

General Mills Inc (GIS.N), meanwhile, said it is encouraged by a growing middle class in emerging markets.

"We expect our international business to lead General Mills growth," Chris O'Leary, chief operating officer for General Mills' International unit, said during a presentation on Tuesday morning, which kicked off the Consumer Analyst Group of New York conference in Boca Raton, Florida.

Read Full Article from Reuters

- Posted: 2010-02-16 11:32:59

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