Kraft Foods

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Kraft Foods Group, Inc.
TypePublic
Traded asNASDAQKRFT
S&P 500 Component
NASDAQ-100 Component[1]
IndustryFood processing
Founded2012
HeadquartersNorthfield, Illinois, U.S.
Area servedUnited States and Canada
Key peopleJohn Cahill
(Executive Chairman)
Tony Vernon
(CEO)
ProductsList of products
RevenueDecrease US$ 18.339 billion (2012)[2]
Operating incomeDecrease US$ 02.670 billion (2012)[2]
Net incomeDecrease US$ 01.642 billion (2012)[2]
Total assetsIncrease US$ 23.329 billion (2012)[2]
Total equityDecrease US$ 3.572 billion (2012)[2]
Employees23,000 (2012)[3]
Websitewww.kraftfoodsgroup.com
 
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Kraft Foods Group, Inc.
TypePublic
Traded asNASDAQKRFT
S&P 500 Component
NASDAQ-100 Component[1]
IndustryFood processing
Founded2012
HeadquartersNorthfield, Illinois, U.S.
Area servedUnited States and Canada
Key peopleJohn Cahill
(Executive Chairman)
Tony Vernon
(CEO)
ProductsList of products
RevenueDecrease US$ 18.339 billion (2012)[2]
Operating incomeDecrease US$ 02.670 billion (2012)[2]
Net incomeDecrease US$ 01.642 billion (2012)[2]
Total assetsIncrease US$ 23.329 billion (2012)[2]
Total equityDecrease US$ 3.572 billion (2012)[2]
Employees23,000 (2012)[3]
Websitewww.kraftfoodsgroup.com
Kraft headquarters in Northfield

Kraft Foods Group Inc. (NASDAQKRFT) is an American grocery manufacturing and processing conglomerate[4] headquartered in the Chicago suburb of Northfield, Illinois.[5]

The company was formed in 2012 by a demerger from Kraft Foods Inc., which in turn was renamed Mondelēz International. The new Kraft Foods Group is a North American grocery business, while Mondelēz is a multinational snack and confectionary company. Kraft Foods Group is an independent public company; it is listed on the NASDAQ.

History[edit]

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".[6]

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.[7]

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 Mondelez International, Inc.[8]

Sponsorships and promotions[edit]

Kraft 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. The company also sponsored the Kraft Fight Hunger Bowl, a post-season college football bowl game, from 2010-2012.

Kraft HockeyVille is 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 in Canada and is directed by Mike Dodson.

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.[9][10] This app costs $1.99; a version for home computers is available on Apple's App Store.

Kraft is also involved in political sponsorship. According to The Guardian, Kraft helps to finance the State Policy Network. The State Policy Network characterizes itself as "made up of free market think tanks - at least one in every state - fighting to limit government and advance market-friendly public policy".[11][12]

Brands[edit]

The old Kraft logo still used on Kraft branded products
A container of Planters Dry Roasted Peanuts

The company's core businesses are in beverage, cheese, dairy foods, snack foods, and convenience foods. A selection of Kraft's main brands are as follows:[13]

Corporate social responsibility[edit]

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.[14] In 2011, when Kraft cancelled its contract with Asia Pulp & Paper, Greenpeace Executive Director Phil Radford commended Kraft for efforts made towards forest protection, for "taking rainforest conservation seriously."[15]

See also[edit]

References[edit]

  1. ^ "Kraft Foods Group to Join Nasdaq 100". Fox Business. March 8, 2013. Retrieved April 2, 2013. 
  2. ^ a b c d e "2012 Annual Report". Kraft Foods. 
  3. ^ "About Us". Kraft Foods. Retrieved May 9, 2013. 
  4. ^ "Kraft Foods Inc.". Funding Universe. 2002. Archived from the original on August 19, 2010. Retrieved March 10, 2008. 
  5. ^ "2009 Fact Sheet." Kraft Foods. 6/7. Retrieved January 30, 2011. "Corporate Offices Kraft Foods Inc. Three Lakes Drive Northfield, IL 60093"
  6. ^ "Financial News Release: Kraft Foods Announces Filing Of Form 10 Registration Statement For Planned Spin-Off Of North American Grocery Company". PR Newswire. April 2, 2012. Retrieved April 9, 2012. 
  7. ^ Rushe, Dominic (March 21, 2012). "Kraft spins off snacks business into new Mondelez International company". The Guardian (London). Retrieved March 21, 2012. 
  8. ^ "Starbucks To Pay Kraft $2.7 Billion For Early Contract Termination". Vending Machine News. Retrieved November 19, 2013. 
  9. ^ "Big Fork Little Fork". KraftRecipes.Com. Retrieved January 4, 2011. 
  10. ^ Kleinberg, Adam (January 4, 2011). "Why Every Brand Needs an Open API for Developers". Mashable.Com. Retrieved January 4, 2011. 
  11. ^ Pilkington, Ed; Goldenberg, Suzanne (December 5, 2013). "State conservative groups plan US-wide assault on education, health and tax". The Guardian (London). Retrieved December 6, 2013. 
  12. ^ State Policy Network, retrieved 2013-12-23 
  13. ^ "Largest Brands". Kraft Foods Group. 2012. Retrieved October 28, 2012. 
  14. ^ "Paper Giant Pledges to Leave the Poor Rainforest Alone. Finally. Asia Pulp & Paper—the notorious destroyer of pristine tiger and orangutan habitat—says it's changing its ways.". Mother Jones. Retrieved 2013-11-27. 
  15. ^ Phil Radford. "Hasbro Turns Over a New Leaf, Steps Up for Rainforests". Huffington Post. Retrieved 2013-11-27. 

External links[edit]