Kraft Foods became the latest US company to decide to separate its businesses, announcing that it would split its North American grocery division from its global snacks business less than 18 months after its hostile $19bn takeover of Cadbury, the UK chocolate maker.
It is to spin off its grocery arm, which has revenues of about $16bn and brands such as Kraft’s eponymous macaroni and cheese, Oscar Mayer meats and Philadelphia cream cheese.
The faster-growing snacks business has revenues of about $32bn, with about 42 per cent coming from developing markets, and includes Oreo biscuits, Cadbury and Trident gum.
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