Kraft Foods (Jamaica) sells trademarks
August 24, 2007
by FoodBusinessNews.net Staff
KINGSTON, JAMAICA — Kraft Foods (Jamaica) has reached an agreement to sell the Butterkist, Pic Nix and Snackables trademarks along with the rights to commercialize Ovaltine Biscuits in Jamaica and other international markets to Seprod Ltd.
Seprod Ltd. also is acquiring the manufacturing assets of Kraft’s Jamaican business and will begin production of the acquired brands beginning Sept. 3.
The decision was made as the Jamaican unit of Kraft has been taking steps to simplify operations, support long-term business growth and better meet the needs of consumers.
Sepord is a publicly listed company on the Jamaican Stock Exchange and is an associate company of the Musson Group. Facey Commodity, Kraft’s largest distributor in Jamaica, is also a part of the Musson Group.
Kraft transferred management of traditional trade distribution to Facey in 2006, and Facey also began providing Kraft with additional support in marketing, sales, customer service and logistics.
The company said the recent decision strengthens Kraft’s relationship with Seprod Ltd. and Facey Commodity by allowing Seprod and Facey to focus on the management and manufacturing of local brands with Kraft focusing on the development of its core international brands.