The company set to form Kraft Foods’ North American business will look to “turbo-charge” its “iconic” brands to gain an edge on its competitors, the CEO-designate of the business has claimed.
Kraft will split next month to form a North American grocery company and global snacks arm and late last week told investors of their priorities for both businesses.
Go deeper with GlobalData
The North American grocery company, to be called Kraft Foods Group, will own brands including Oscar Mayer meats and Jell-O puddings.
Speaking to investors and analysts at the Barclays Capital Back to School Conference, Kraft Foods Group said it had a “four-part strategic plan”, including becoming a “more nimble, less layered” business and “turbo-charging” its brands.
Kraft Foods Group said it would aim to “grow faster than the market and key competitors” and added: “This means delivering the right products at the right price points, introducing big bet innovations like MiO, which created an entirely new product category of liquid beverage enhancers, addressing health & wellness needs through the reformulation of existing products and introduction of new products, and investing in world-class marketing. Increased advertising in brands like Velveeta, Philadelphia, Kraft Mayo and Capri Sun has already resulted in significant sales increases.”
See Also:
The company plans to include share ownership in the incentive plans it awards to employees to “reinforce the alignment between employee and shareholder interests”. It also plans to create a “Kraft university” to train staff.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataTony Vernon, president of the current Kraft’s North American business, will be CEO of Kraft Foods Group. He said the new company will have “the spirit of a startup and the soul of a powerhouse”.
Vernon added: “Our aim is to be North America’s best food and beverage company, and we’ll get there by continuing to offer products consumers love, creating a performance-based culture that motivates and excites employees and becoming the best investment in the industry.”
