As its first acquisition, Kraft Foods Europe, which is being integrated into spunoff snack giant Mondelez International, purchases Italy’s Vitasnella snack business from France’s Danone for an undisclosed price as part of its consolidation plans in Europe.
Nestle USA says that its U.S. operations will soon be led by its current head of business in the U.K. and Ireland, Paul Grimwood. Grimwood becomes CEO and chairman of Nestle USA in October. In September, Tracey Belcourt will join Kraft Foods as executive vice president, strategy, leading mergers and acquisitions activities for the global snacks company, Mondelez International Inc., and evolving and implementing the company's growth strategy.
The shareholders of Kraft Foods Inc. voted today to change the name of the company to Mondelez International, Inc. The proposal was approved by more than 90 percent of the shareholders who cast a vote(1). The new name will become effective at the time of the planned spin-off of the company's North American grocery business.
