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April 25, 2008

SPAIN/HUNGARY: Panrico, Nestlé buy Kraft brands

Kraft Foods has struck deals to sell Spanish biscuit business Artiach and the Hungarian rights to chocolate brand Balaton.

Kraft Foods has struck deals to sell Spanish biscuit business Artiach and the Hungarian rights to chocolate brand Balaton.

The disposals were a condition of the EU’s approval of Kraft’s acquisition of Danone’s global biscuit business last year.

The US food giant has offloaded Artiach to Spanish baker Panrico, while Nestlé has snapped up Balaton.

Kraft insisted the disposals would “not affect its ongoing businesses” in Spain and Hungary.

Financial details were not disclosed.

Kraft bought Danone’s biscuit business last year in a deal worth EUR5.3bn (US$8.3bn).

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