(Reuters) - Kraft Foods said it was determined to pursue Britain’s Cadbury, the world’s second largest confectionery group, which rejected a 10.2 billion pound ($16.7 billion) bid from the U.S. company..
Following are facts about Kraft:
* Kraft is the world’s second largest food group, after Nestle.
* The company’s origins date to 1903, when James L. Kraft began a business selling cheese from the back of a wagon in Chicago, Illinois. In 1914 the firm started making its own cheese.
* Kraft was acquired by tobacco corporation Philip Morris in 1988 for $12.9 billion.
* In 2000 Philip Morris bought biscuit firm Nabisco, the maker of Oreo cookies, for $19.2 billion, and merged it with Kraft.
* Kraft Foods Inc was listed on the New York Stock Exchange in 2001, with the spin off completed in 2007.
* In 2007 Kraft bought the biscuit business of Danone - which includes well known French brand LU - for $7.2 billion. When the bid was announced, French economy minister Christine Lagarde is reported to have said: “We are not yet ready to put ketchup on our petits LU.”
* Kraft still sells cheese singles under the Kraft brand in some countries, including Britain, while in North America the Kraft brand adorns packets of macaroni cheese.
* Kraft’s other major brands include Oscar Mayer hotdogs, instant coffee brand Maxwell House, Philadelphia soft cheese and chocolate brands Milka and Toblerone, acquired when it bought Jacobs Suchard in 1990.
* Kraft has 98,000 employees and 168 plants.
* In 2008 Kraft had revenues of $42 billion.
* On August 4, 2009, Kraft reported an 11 percent rise in quarterly profit, boosted by people eating more meals at home during tough economic times.
(Compiled by Rosalba O’Brien, editing by Will Waterman)
$1 = 0.6101 pound
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