EGYPT/USA: Kraft to buy Egyptian biscuit company
US food giant Kraft has announced that its international business has reached a preliminary agreement to acquire the Family Nutrition Company, an Egyptian producer of biscuits and snack cakes.
The pending transaction is subject to final agreement and regulatory approvals. Terms of the acquisition were not disclosed.
The Family Nutrition Company is a privately owned family business with 2002 revenues of approximately US$40m and over 1800 employees.
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