Kraft Foods

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This article is about the post-2012 de-mergered grocery business, now a division of Kraft Heinz Company. For the pre-2012 Kraft Foods, see Kraft Foods Inc. For the unrelated group of businesses, see The Kraft Group. For other uses of "Kraft", see Kraft (disambiguation).
Kraft Foods Group, Inc.
Public
Traded as NASDAQ: KRFT
Industry Food processing
Fate Merged with Heinz
Founded 2012
Defunct 2015 (2015)
Headquarters Northfield, Illinois, United States
Area served
 WorldWide
Key people
 John Cahill
(Chairman and CEO)
Products List of products
Revenue Decrease US$ 18.218 billion (2013)[1]
Increase US$ 04.591 billion (2013)[1]
Increase US$ 02.715 billion (2013)[1]
Total assets Decrease US$ 23.148 billion (2013)[1]
Total equity Increase US$ 5.187 billion (2013)[1]
Number of employees
 23,000 (2012)[2]
Parent Kraft Heinz
Website www.kraftfoodsgroup.com

Kraft Foods Group, Inc., was an American manufacturing and processing conglomerate[3] headquartered in the Chicago suburb of Northfield, Illinois.[4]

The company was formed in 2012 as a spin off from Kraft Foods Inc., which in turn was renamed Mondelēz International. The new Kraft Foods Group was focused mainly on grocery products for the North American market, while Mondelēz is focused on international confectionery and snack brands. Until the merger with Heinz, Kraft Foods Group was an independent public company listed on the NASDAQ stock exchange.

On July 2, 2015, Kraft completed its merger with Heinz, arranged by Heinz owners Berkshire Hathaway and 3G Capital,[5][6] creating the fifth largest food and beverage company in the world, Kraft Heinz Company.[7][8]

History

Spinoff of Kraft Foods Group from Mondelēz International, Inc

File:Kraft Foods logo.svg
Former Kraft Foods corporate logo

In August 2011, Kraft Foods Inc. announced plans to split into two publicly traded companies—a snack food company and a grocery company.[9]

On April 2, 2012, Kraft Foods Inc. announced that it had filed a Form 10 Registration Statement to the SEC to split the company into two companies to serve the "North American grocery business."[10]

On October 1, 2012, Kraft Foods Inc. spun off its North American grocery business to a new company called Kraft Foods Group, Inc. The remainder of Kraft Foods Inc. was renamed Mondelēz International, Inc. and was refocused as an international snack and confection company.[11]

On November 19, 2013, it was ruled that Starbucks will have to pay Kraft Foods Inc. $2.7 billion because of an early contract termination. The money will go to Mondelēz International, Inc.[12]

Kraft and Heinz Merger

On March 25, 2015 Kraft Foods Group Inc, the maker of Velveeta cheese and Oscar Mayer meats, announced that it would merge with ketchup maker H.J. Heinz Co, owned by 3G Capital and Berkshire Hathaway Inc, to form the world's fifth-largest food and beverage company. Kraft's shares rose about 17 percent in premarket trading after the announcement of the deal, which will bring Heinz back to the public market following its takeover two years ago.[13] The companies expect the merger to close in the second half of 2015.[14]

Sponsorships and promotions

Kraft is an official partner and sponsor of both Major League Soccer and the National Hockey League. Kraft Hockeyville originally began in 2006 as a Canadian reality television series developed by CBC/SRC Sports and sponsored by Kraft Foods in which communities across Canada compete to demonstrate their commitment to the sport of ice hockey. The contest revolves around a central theme of community spirit. The winning community gets a cash prize dedicated to upgrading their local home arena, as well as the opportunity to host an NHL preseason game. In 2007, it was then relegated to segments aired during Hockey Night in Canada. In 2015, Kraft Hockeyville was expanded into the United States, with a separate competition for communities in America.

From 2002 to 2014, Kraft sponsored the Kraft Nabisco Championship, one of the four "majors" on the LPGA tour. The company also sponsored the Kraft Fight Hunger Bowl, a post-season college football bowl game, from 2010 to 2012.

In 2011, Kraft has released an iPad app called "Big Fork Little Fork" which, in addition to games and other distractions, has information regarding how to use Kraft foods in nutritious ways.[15][16] This app costs $1.99; a version for home computers is available on Apple's App Store.

Kraft is also involved in political sponsorship. Kraft is among the major funders of the State Policy Network, "made up of free market think tanks - at least one in every state - fighting to limit government and advance market-friendly public policy".[17][18]

Brands

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Main article: List of Kraft brands
The old Kraft logo still seen on some Kraft branded products

The company's core businesses are in beverage, cheese, dairy foods, snack foods, and convenience foods. A selection of Kraft's major brands is as follows:[19]

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Corporate social responsibility

For years, Kraft purchased paper for its packaging from Asia Pulp & Paper, the third largest paper producer in the world, which was labeled as a "forest criminal" for destroying "precious habitat" in Indonesia's rainforest.[20] In 2011, when Kraft canceled its contract with Asia Pulp & Paper, Greenpeace Executive Director Phil Radford commended Kraft for efforts made towards forest protection, for "taking rainforest conservation seriously."[21]

Controversy

In 2013, food blogger and activist Vani Hari and 100 Days of Real Food blogger Lisa Leake launched an online petition drive to compel Kraft Foods Group, Inc. to remove controversial synthetic dyes Yellow 5 (labeled as Tartrazine) and Yellow 6 from its macaroni and cheese products.[22]

In April 2013, Hari and Leake delivered a petition with some 270,000 signatures to Kraft headquarters in Chicago, Ill., and asked the company to change its macaroni and cheese recipes.[23][24]

In October 2013, Kraft announced that it would remove artificial dyes from three macaroni and cheese varieties made in kid-friendly shapes, but not its plain elbow-shaped Kraft Macaroni and Cheese product with "original flavor."[25]

See also

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 Kraft Foods Group, Inc. Form 10-K, Securities and Exchange Commission, February 21, 2014
  2. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ "2009 Fact Sheet." Kraft Foods. 6/7. Retrieved January 30, 2011. "Corporate Offices Kraft Foods Inc. Three Lakes Drive Northfield, IL 60093"
  5. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  8. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  9. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  14. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  15. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  16. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  17. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  18. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  19. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  20. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  21. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  22. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  23. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  24. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  25. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

  • Media related to Lua error in package.lua at line 80: module 'strict' not found. at Wikimedia Commons
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