Kraft Foods, which has food for sale in more than 125 countries around the globe, is opening a facility in France that will research biscuits. The facility, which will be called Biscuit Research & Development Center, will be built in a suburb of Paris at a price of around $20 million.
Said Michael Clarke of Kraft Foods Europe: “France is an important strategic market for biscuits and for Kraft Foods globally. This investment makes good business sense, allowing us to continue to drive biscuit innovation and future growth. Consumers in Europe and around the world have long enjoyed our exceptional biscuit …read more

Kraft Foods recently entered a bid for the acquisition of Cadbury, one that the latter quickly rejected. Now, Cadbury’s chairman Roger Carr has released a strongly worded letter that he sent to Kraft chairman and chief executive Irene Rosenfeld, a message in which he blasts Kraft’s letter and reveals how unattractive his company finds the offer.
 
Carr referred to Kraft as a “low-growth, conglomerate business,” and referred to Kraft’s general offer of acquiring Cadbury as “unappealing.” While Kraft hoped to acquire Cadbury for $16.7 billion, Carr stated that such an offer severely underestimated Cadbury’s potential as a standalone business, as well …read more

A battle in the global candy market seems to be in the making after Cadbury PLC’s speedy decision to turn down Kraft Foods Inc.’s $16.73 billion offer for control of the company. Kraft may soon find competition from Hershey for the acquisition of Cadbury, but Cadbury may has yet to receive an offer it will even consider.
 
Kraft decided to publicly announce its bid for Cadbury after the candy company privately rejected its bid, causing Cadbury to publicly state how Kraft’s bid “fundamentally undervalues” Cadbury. Kraft hopes to acquire Cadbury so that it could extend its candy empire throughout larger reaches …read more

Despite a decrease in revenue, Kraft Foods has managed to post an 11 percent rise in profits for its fiscal second quarter. This result surpassed analyst expectations and has led Kraft Foods to enhance its outlook for the rest of the fiscal year, banking on a recent restructuring effort and the improvement of its products.
According to company CEO Irene Rosenfeld, Kraft’s higher-priced products are still managing to lure shoppers, but that Kraft will now focus on increasing volume and product variety rather than prices. She also credited the company’s three-year turnaround plan with its surprisingly strong performance this quarter.
As part …read more