March 30 at 5:01 p.m.
Filed under:
Food
By Reuters
Hershey's 5th Avenue candy bars and York Peppermint Patties arranged for a photograph in Reading, Pa. (Bradley C. Bower/Bloomberg News)
Hershey Co. announced a 9.7 percent increase in prices on its chocolates and other candies, paving the way for similar actions from competitors.
The world’s largest chocolate maker is aiming to offset soaring costs for ingredients such as sugar, the price of which has more than doubled in the past year, and cocoa, which jumped earlier this year, but has since retreated somewhat. Get the full story »
March 25 at 5:22 p.m.
Filed under:
Economy,
International
By Dow Jones Newswires
(Blommer)
Ivory Coast’s increasingly violent political crisis has cast doubt not only over the availability of this year’s cocoa crop, but also its quality. The country supplies around one-third of the world’s cocoa.
“Concerns now are being raised in regard to how a long drawn out solution could negatively impact the quality and quantity of the country’s upcoming mid crop,” said Kip Walk, head of cocoa at Chicago-based Blommer Chocolate Co., one of the world’s largest cocoa processors that sells to major candy makers. Get the full story »
March 15 at 12:51 p.m.
Filed under:
Food,
Government,
International,
M&A,
Packaged foods
By Dow Jones Newswires
Creme Eggs move down the line at the Bournville production plant. (Christopher Furlong/Getty)
Executives from Kraft Foods Inc. appeared at a parliamentary hearing Tuesday over the company’s 11.9 billion-pound acquisition of confectioner Cadbury a year ago, but the absence of Chief Executive Irene Rosenfeld drew criticism from lawmakers.
U.K. lawmakers on the Business, Innovation & Skills committee are discussing with Kraft — maker of Oreo cookies, Philadelphia cream cheese and Maxwell House coffee — the commitments it made a year ago following the takeover, as well as seeking reassurances on jobs and investment into research.
Last April, lawmakers said in a report that Northfield-based Kraft acted “irresponsibly” and “unwisely” during its acquisition of Cadbury and damaged its reputation in the U.K. Get the full story »
Nov. 5, 2010 at 11:26 a.m.
Filed under:
Earnings,
Food,
Stock activity
By Reuters
Kraft Foods Inc. shares fell 2.4 percent on Friday, a day after the packaged foods company said its 2011 forecast included an extra week.
The maker of Maxwell House coffee, Cadbury chocolate and Velveeta cheese also said that Starbucks wants to end the companies’ 12-year-old deal whereby Kraft sells packaged Starbucks coffee. Get the full story »
By Associated Press
The Hershey Co. is asking a federal judge to decide whether its iPhone application to make virtual chocolate milk violates another company’s copyright. The Pennsylvania chocolate maker has filed a federal complaint asking for a judgment in its legal dispute with Las Vegas-based software developer Hottrix LLC. Get the full story »
Sep. 9, 2010 at 6:27 a.m.
Filed under:
Food
By Reuters
Barry Callebaut AG said Thursday it has signed a supply contract with Kraft Foods Inc., a deal that will increase the Zurich-based chocolate company’s global reach and spark heavy investment. Get the full story »
Aug. 11, 2010 at 6:16 a.m.
Filed under:
Food,
International
From Bloomberg News
Kraft Foods Inc., the world’s biggest confectioner after buying Cadbury Plc, will start making Tang and chocolate next year at a new $50 million plant in Brazil, fueling expansion in faster-growing developing markets.
The move is part of Chief Executive Officer Irene Rosenfeld’s strategy to use Cadbury’s strength in those regions and prove to investors that the merger makes sense. Kraft now gets about one-quarter of its almost $50 billion in sales from emerging markets because of Cadbury. Get the full story »
July 7, 2010 at 6:01 a.m.
Filed under:
Food,
International,
M&A
By Dow Jones Newswires
Kraft Foods Inc. reached a deal to sell Cadbury’s Romanian operations to investment fund Oryxa Capital for an undisclosed amount. The deal — involving the Kandia-Excelent chocolate, soft cake and sugar confectionery business — is the last sale required by European regulators as part of Kraft’s $19 billion purchase earlier this year of Cadbury. Get the full story »
July 6, 2010 at 5:51 a.m.
Filed under:
Food,
Jobs/employment,
Layoffs
By Dow Jones Newswires
Kraft Foods Inc. confirmed Monday it has laid off around 120 staff at the global headquarters of the Cadbury business it bought earlier this year for $17.78 billion.
A spokesman for the Chicago-based company said the global headquarters of Cadbury on the outskirts of London has now closed, with the loss of about 120 staff. Only around 50 of Cadbury’s global head office staff had been found new roles within Kraft, he said. Get the full story »
June 28, 2010 at 6:02 a.m.
Filed under:
Food,
International,
M&A
By Tribune staff report
Kraft foods has reached a deal to sell its Wedel chocolate and candy business in Poland, which it acquired with its purchase of Cadbury, to South Korea’s Lotte Group for an undisclosed price. The sale is part of Kraft’s agreement with EU regulators to sell off some units as part of its acquisition of Cadbury.
June 22, 2010 at 7:47 a.m.
Filed under:
Food,
International,
M&A
From the Daily Mail | Calling Kraft Foods purchase of UK confectioner Cadbury the “worst handled takeover of all time,” Cadbury heiress Felicity Loudon is selling her $40 million estate to launch a rival chocolate company. “I can’t accept that Cadbury has gone to America. To a plastic cheese company,” the 61 year old great-great-grandaugther of John Cadbury said.
