When did Philip Morris merge with Kraft Foods?

When did Philip Morris merge with Kraft Foods?

In 2000, Philip Morris (renamed Altria in 2003) acquired Nabisco Holdings for $18.9 billion and merged the company with Kraft Foods the same year. In 2001, Philip Morris sold 280 million Kraft shares via the third-largest IPO of all time, retaining an 88.1% stake in the company.

Who is the CEO of Kraft Foods Company?

According to the Kraft CEO Tony Vernon the company’s vision is “… to be North America’s best food and beverage company, and we’ll get there by continuing to offer products consumers love, creating a performance-based culture that motivates and excites employees and becoming the best investment in the industry.”

When did Kraft Foods change its name to Kraft Foods?

In 1995, it changed its name to the present name, Kraft Foods. The same year, it sold its bakery division (except Lender’s Bagels, which was sold in 1996 to CPC International), its candy division and its tablespreads division. Log Cabin syrup was sold in 1997.

Who are the household names of Kraft Foods?

Kraft Food Groups is a household name in America, “98% of North American households have Kraft brands in their pantries and refrigerators.”

Who are the founders of Kraft Foods Company?

Kraft traces its history to three of the most successful food entrepreneurs of the late 19th and early 20th centuries — J.L. Kraft, who started his cheese business in 1903; C.W. Post, who founded Postum Cereal Company (later renamed General Foods Corporation) in 1895; and Oscar Mayer, who began his meat business in 1883. The Story of J.L. Kraft

When did Kraft Foods merge with Philip Morris?

Four years later, General Foods Corporation was acquired by Philip Morris Companies, Inc. After Philip Morris acquired Kraft, Inc. in 1988, the two food subsidiaries were combined to form Kraft General Foods, Inc. in 1989.

What are the values and mission of Kraft Foods?

The mission of the company is “to be North America’s best food and Beverage Company.” (Kraft) The company has a long list of values to include; compliance &integrity, nutrition &well being, corporate governance, community involvement, sustainability, and food safety and equality.

When was RJR Nabisco acquired by Kraft Foods?

1985: Philip Morris Companies Inc. acquires General Foods; R.J. Reynolds acquires Nabisco Brands, forming RJR Nabisco, Inc. and its food unit, Nabisco Foods Group. 1986: Dart & Kraft is demerged into Kraft, Inc. (the food operations plus Duracell batteries) and Premark International (the remaining operations).