USA: Kraft Foods Announces Equity Investment in EthnicGrocer.com, Inc.
Kraft Foods, the nation's largest packaged foods company, announced today that it has made an equity investment in EthnicGrocer.com, Inc., the privately held Internet-based retailer targeting ethnic communities. "Kraft's new strategic partnership with EthnicGrocer.com provides exciting opportunities for both companies," said Alene Korby, Senior Vice President of Procurement for Kraft, who will join EthnicGrocer.com's board of directors. "We will gain insights into an Internet-based food company's operations, while sharing our supply chain and quality systems expertise with EthnicGrocer.com." "EthnicGrocer.com is a leader in the procurement, distribution and online retailing of ethnic consumer products from across the globe using our proprietary technology and supply chain platforms," said Parry Singh, President and CEO of EthnicGrocer.com, Inc. "Leveraging this expertise on top of Kraft's existing systems knowledge, EthnicGrocer.com is well-positioned for future growth." "This e-partnership -- along with others like Food.com -- further expands our participation in online food solutions," noted Paula Sneed, President of Kraft's E-Commerce Division. "We will continue to explore joint strategic initiatives that offer synergies and growth potential for Kraft."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- General Mills sales woes continue - analysis
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Analysis: Chocolate sector's deforestation pledge
- Comment: Meal kits in US - don't believe the hype
- Kraft Heinz cuts jobs in US, Canada
- Mondelez set for union crosshairs next week
- Mondelez plays down impact of union action
- Brazil seeks to cool concerns over meat probe
- US meal delivery service Blue Apron buys BN Ranch