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Kraft Foods
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Everything about Kraft Foods totally explained
Kraft Foods Inc. is the 2nd largest food and beverage company headquartered in North America (behind PepsiCo) and the third largest in the world (after Nestlé SA and PepsiCo).
The Philip Morris Company (now known as Altria Group), acquired Kraft for $12.9 billion in 1988, eventually merging it with another food subsidiary, General Foods, which it had acquired in 1985. In 2000, Philip Morris acquired Nabisco and merged it with Kraft. Altria sold 280 million Kraft shares via an initial public offering in 2001, retaining an 88.1% stake. On January 31, 2007, after months of speculation, the company announced that its 88.1% stake would be spun off to Altria shareholders at the end of March 2007. Kraft is now an independent publicly held company.
Kraft is headquartered in Northfield, Illinois, USA, a Chicago suburb. Kraft Foods markets many popular brands in more than 155 countries.
Kraft Foods is named after James L. Kraft, who founded the original wholesale cheese business in 1903.
History
James L. Kraft started a wholesale door-to-door cheese business in Chicago in 1903; its first year of operations was "dismal", losing $3,000 and a horse. Still, the business took hold and Kraft was joined by his four brothers to form J.L. Kraft and Bros. Company in 1909. As early as 1911, circulars and advertisements were in use by the company. In 1912, the company established its New York headquarters to prepare for its international expansion. By 1914, 31 varieties of cheeses were being sold around the United States, due to heavy product development, expansion by marketing, and opening a wholly-owned cheese factory in Illinois.
In 1915, the company had invented pasteurized processed cheese that didn't need refrigeration, thus giving a longer shelf life than conventional cheese. with options such as buying Wendy's fast food chain or selling off Post cereals and Maxwell House coffee. While two years earlier firestorms of protest had arisen over plans for American PepsiCo's hostile takeover of the French company, Kraft's announcement wasn't met with the same protests, although a possible deal comes with strings: promising not to close French factories and keep the cookie headquarters near Paris for at least three years.
Sponsorships
Kraft Foods is an official partner and sponsor of Major League Soccer and sponsors the Kraft Nabisco Championship, one of the four "majors" on the LPGA tour.
Brands
Kraft Foods' core businesses are in beverage, cheese and dairy, snackfoods and confectionery, convenience foods and cereals.
Former brands
Postum hot cereal-based beverage, discontinued in 2007
Post Cereals (from Shredded Wheat to Honey Bunches of Oats) sold to Ralcorp Holdings (deal pending)
Fruit2O and Veryfine beverages sold to Sunny Delight in 2007
Cream of Wheat and Cream of Rice sold to B&G Foods in 2007
Minute Rice in 2006
Milk-Bone (sold to Del Monte Foods in 2006)
Del Monte, Aylmer, Coronation and other grocery products in Canada (sold to CanGro in 2005)
Life Savers and Altoids (sold to Wm. Wrigley Jr. Company in 2005)
Life Savers in Canada (sold to Hershey's in 1987 then sold to Beta Brands in 1996 then sold to Wm. Wrigley Jr. Company in 2005)
Trolli (sold to Wm. Wrigley Jr. Company and then to Farley's & Sathers)
Breyers and Light N' Lively yogurt, sold to CoolBrands International
Breyers, Sealtest, Frusen Gladje and Light N' Lively ice cream, sold to Unilever in 1993, though the Oreo ice cream in the U.S. is made by Breyers.
Bird's Eye frozen products, sold to Dean Foods in 1993; now independent
Budget Gourmet frozen meals, sold to H.J. Heinz in 1994; now sold by Bellisio Foods
Lender's bagels now part of Blackstone Group's Pinnacle Food Group in 1996.
Rondele spreadable cheeses sold to Waterbury Holdings in 1996
Stella D'oro (sold to Stella D'oro Holdings LLC, a newly formed subsidiary of Brynwood Partners in 2006)
Farley's & Sathers now independent.
Celestial Seasonings (Bought back by original owners in 1988)
Kraft Foodservice sold to Clayton, Dubilier and Rice Inc. in 1995
Bakery business (consists of Entenmann's, Freihofers, Oroweat and Boboli brands) to Bestfoods in 1995, now owned by George Weston Limited
Specialty oils business sold to Associated British Foods in 1995
Parkay, Touch of Butter, and Chiffon sold to Nabisco Brands, Inc. in 1995.
Caramel and marshmallow business, sold to Texas Pacific Group in 1995, which later, reacquired
Koogle flavored peanut butter, discontinued
Spreadery spreadable cheeses, discontinued
Cheddarie cheese spread, discontinued
Cheese Pot cheese spread, discontinued
Kraft Eating Right frozen entrees, discontinued
Stove Top Ovens Classics, discontinued in 2003
Kraft Foods in the news
In 1992, the gelatin industry, in particular Kraft's Atlantic Gelatin plant in Woburn, Massachusetts, which supplies the vast majority of Jell-O, came under scrutiny for a history of noxious smells, toxic waste releases into Boston Harbor, and a policy of corporate secrecy. Heading off a rash of local complaints, industry lobbyists invited Massachusetts state representatives Paul Casey and Carol Donovan into the plant. However, the representatives were barred from going past the conference room. Repeated requests for a plant tour by journalists were refused. In 1993, the plant was hit with a $250,000 fine for violating the Clean Air Act of 1970. In a February 4 1996 article, the Associated Press reported that a Massachusetts Department of Environmental Protection official was one of only a few outsiders who had seen the inside of the Woburn plant.
In 2005, Kraft was sued for spamming its Gevalia coffee brand by Hypertouch , an ISP. Kraft was accused of sending multiple waves of spam to the ISP, and the action brought under the CAN-SPAM Act of 2003 act. At the time of writing, the suit hadn't yet been ruled upon.
Kraft began a major restructuring process in January 2004, following a year of declining sales, (blamed largely on the rising health consciousness of Americans), and the sacking of co-CEO Betsy Holden. The company announced closures of 19 production facilities worldwide and the reduction of 5500 jobs, as well as the sale of 10% of its branded products. Kraft Foods expects to eliminate 8000 jobs, roughly 8% of its workforce.
Further Information
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