NORTHFIELD, Ill.–(BUSINESS WIRE)–Kraft Foods Inc. (NYSE:KFT – news), a global leader in branded foods and beverages, today announced that Kraft Foods International has completed its acquisitions of the Russian and Polish confectionery businesses of Germany-based Stollwerck AG.
On August 1st 2001, Kraft had announced an agreement to acquire the Central and Eastern Europe confectionery business of Stollwerck, consisting of units in Russia, Poland and Hungary. Stollwerck’s 2000 revenues for this region were approximately $150 million.
The Russian and Polish acquisitions were closed effective December 31, 2001, following regulatory approval by authorities in those countries. The regulatory review continues in Hungary, and it is anticipated that this process will be finalized during the first quarter of this year.
Kraft Foods is the largest branded food and beverage company headquartered in the United States and the second largest worldwide. Kraft Foods markets many of the world’s leading food brands, including Kraft Cheese, Jacobs and Maxwell House coffees, Nabisco cookies and crackers, Philadelphia cream cheese, Oscar Mayer meats, Post cereals and Milka chocolates, in more than 140 countries.
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