Tag: Kraft

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Kraft Swallows Cadbury [Updated]

Kraft Buys Cadbury

Well, it is done, mostly. After opening its mouth a little wider than during its first attempt, Kraft is poised to swallow British chocolate maker Cadbury. Kraft had to increase its offer from 761p to 840p per share and add a 10p per share dividend. Last night, Cadbury’s chairman Roger Carr agreed to recommend to its shareholders to accept this offer.

Although it is still possible for Hershey to make a competing bid as was reported over the weekend, it is unlikely that it will match this offer which is right in line with what Cadbury shareholders expected. Besides, Kraft is about five times the size of Hershey.

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Kraft Likes Deal with Rainforest Alliance

Kraft, the global food giant, likes the deal it struck with the Rainforest Alliance. So much so, it expanded its commitment to purchase RA certified cocoa from 3,000 to 30,000 by 2012. It’s the first major food giant in Europe to carry the RA seal. That’s still a drop in the bucket given the amount of cocoa it buys but, hey, it’s something. So look for Côte d’Or chocolate with the RA label. Still no fairtrade commitment, though. It seems U.S. based corporations have a really difficulty time with fairtrade. So far, Cadbury stands alone with its fairtrade commitment in Europe. Let’s hope that Kraft’s attempt to buy Cadbury won’t pan out.

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Kraft Seeks to Expand Food Empire

Kraft Foods, the U.S. food products giant, has made a hostile bid to take over Cadbury Plc. after Cadbury’s board rejected a Kraft offer of £10.2 billion. Predictably, Cadbury’s share prices rose while Kraft’s fell as shareholders on the respective sides hope for a battle of bids. Kraft’s CEO implied that Cadbury had limited growth potential on its own while, in combination with Kraft, it would be part of a “global powerhouse” of snack foods and confectionery.

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