Kraft's North American grocery, global snacks businesses will be well positioned to outperform competition once businesses are split by end of year, CEO says
February 25, 2012
– Kraft Foods Chairman and CEO Irene Rosenfeld said the company’s North American grocery and global snacks businesses would be well positioned to outperform their competition upon a planned split, The Chicago Tribune reported Feb. 22.
Kraft plans to split the two businesses by Dec. 31.
Rosenfeld said the outlook for the global snacking company appears bright amid a portfolio of products including Oreo, Trident and Tang.
The North American grocery business, meanwhile, faces several obstacles. It will be faced with debt following the split, will be combined into a mature market, and will be filled with a portfolio of slow-growing older brands.
That said, Kraft's North American growth isn't just expanding in supermarkets, but also in nontraditional outlets where consumers are spending more of their food dollars, said Tony Vernon, Kraft’s North American president who will take over the company’s grocery business following the split.
The primary source of this article is The Chicago Tribune, Chicago, Illinois, on Feb. 22, 2012.