Kraft Foods will today (3 May) officially open a new manufacturing facility in Brazil as part of its US$200m investment to drive growth in the market.
The new $80m facility, located in Pernambuco, will initially produce chocolate and powdered beverages, including the Bis and Lacta chocolate brands. A biscuit line is to be added in 2012, the US food group indicated.
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“Brazil is one of 10 priority developing markets where we’re making big bets,” said Sanjay Khosla, Kraft’s president of developing markets. “Today, we’re among the fastest growing consumer goods companies in markets like Brazil, India and China. We’re excited to build on what’s working by making our biggest investment in Brazil in more than 10 years.”
Following Kraft’s acquisition of confectioner Cadbury, Kraft’s Brazilian business was enlarged to include 35 brands that generate annual revenues of nearly $2bn.
Khosla said that in order to drive further growth Kraft is also increasing its investment in marketing and product development in the country.
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By GlobalData
