US: Kraft to name global snacks arm Mondelez International
By Katy Askew | 21 March 2012
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Mondelez International will sell brands including Cadbury Dairy Milk |
Kraft Foods, which is set to split in two later this year, said today (21 March) the global snacks company to be formed is set to be called Mondelez International.
The US food giant said Mondelez ("pronounced mohn-dah-LEEZ") is a newly-coined word that "evokes the idea of delicious world".
"'Monde' derives from the Latin word for world, and 'delez' is a fanciful expression of delicious. In addition, 'international' captures the global nature of the business," Kraft explained.
The North American grocery company will become Kraft Foods Group, retaining the Kraft brand for its corporate identity and as the brand for many of its consumer products.
"The Kraft brand is a perfect fit for the North American grocery business and gives it a wonderful platform on which to build an exciting future," said chairman and CEO Irene Rosenfeld.
"For the new global snacks company, we wanted to find a new name that could serve as an umbrella for our iconic brands, reinforce the truly global nature of this business and build on our higher purpose - to 'make today delicious.' Mondelez perfectly captures the idea of a 'delicious world' and will serve as a solid foundation for the strong relationships we want to create with our consumers, customers, employees and shareholders."
The new corporate name will now be put to a shareholder vote at the company's AGM in May. If shareholders approve the amendment, the company expects the new name to become effective when the global snacks company launches before the end of 2012.
Sectors: Bakery, Canned food, Chilled foods, Condiments, dressings & sauces, Confectionery, Dairy, Dried foods, Frozen, Meat & poultry, Snacks
Companies: Kraft Foods
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Read more on this hot issue
Kraft's splitKraft Foods has officially split into two companies. One, Mondelez International, a high-growth global snacks firm that will look to ramp up expansion in the developing world. The other, Kraft Foods Group, a North American grocery powerhouse that intends to bolster its business by investing in strong brands and cutting its cost base. just-food takes a look at these different strategies.
There is currently 1 comment on this article
Hopefully, the name will be soon be assimilated and 'forgotten'. I shudder to think how much the corporate branding agency was paid for this!
TheFoodAnalyst.com said at 7:30 pm, March 21, 2012
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