Spin-Off Complete As Mondelēz Intl. Begins Trading
Published on Oct 2 2012 12:59 PM in A-Brands
Global food giant Kraft Foods has completed the spin-off of its North American grocery operations, resulting in the creation of Mondel?z International. The new company comprises the global snacking and food brands of the former Kraft Foods Inc. and started trading on the New York stock exchange NASDAQ today.
The company name is a newly coined word that evokes the idea of a world of "delicious products", according to the firm.
Mondel?z International has 100,000 employees across more than 80 countries with an annual revenue of approximately $36 billion. In Europe, Mondel?z employs 26,000 people in 17 countries, and its brands include Cadbury, Côte d’Or, Milka, Toblerone, Carte Noire, Kenco, Jacobs, Tassimo, belVita, LU, Oreo, Trident, Halls and Philadelphia, representing 37 per cent of Mondel?z activity, with revenues of $13 billion.
“While our name might be new, we’ve done business in Europe for decades," said Tim Cofer, President for Europe, “Mondel?z International is a clear leader in the $35 billion European snacking market with strong leadership positions in chocolate, biscuits, coffee, as well as gum and candy.” (2 Oct)
© 2012 - ESM: European Supermarket