Kraft to divest businesses in Spain, Hungary
April 24, 2008
by Eric Schroeder
NORTHFIELD, ILL. — Kraft Foods Inc. said it has signed agreements to divest its Artiach biscuits business and Balaton chocolate trademark. The actions are expected to complete the regulatory requirement set forth by the European Commission in regards to Kraft’s acquisition of Groupe Danone’s global biscuit business last year.
The Artiach business in Spain will be sold to Panrico, while the Balaton chocolate trademark in Hungary will be sold to Nestle S.A.
Kraft said the divestitures will not affect its ongoing businesses in Spain or Hungary.