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Kraft completes Danone biscuit acquisition
November 30, 2007 / 1:20 PM / 10 years ago

Kraft completes Danone biscuit acquisition

CHICAGO, Nov 30 (Reuters) - Kraft Foods Inc KFT.N said on Friday that it had completed its acquisition of Groupe Danone’s (DANO.PA) global biscuit business, expanding the largest North American food maker’s foothold in Europe and emerging markets.

Georges Casala, formerly the head of Danone’s biscuit business, will join Kraft as president of Kraft Biscuits Europe.

As a result of the 5.3 billion euro ($7.82 billion) deal, the Kraft biscuits business, which includes the Lu, Oreo and Ritz brands, will represent about 20 percent of Kraft’s revenue. (Reporting by Brad Dorfman; Editing by John Wallace) ($=.6781 euro)

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