Kraft dismisses talk of Green & Black’s sale
Kraft Foods has moved to dismiss speculation it could sell Green & Black’s, insisting the organic chocolate brand "is in good hands".
The US conglomerate said in a statement released today that it had “no current plans” to sell.
The move comes after speculation over the weekend that senior managers at Green & Black’s were considering launching a buyout.
Kraft had reportedly turned down an initial proposal to spin off the brand at the end of last year. It acquired Green & Black's as part of its takeover of Cadbury.
“Kraft Foods is the world’s largest chocolate company, with many of the world’s favourite brands – including Cadbury, Milka, Toblerone, Cote d’Or and Green & Black’s,” said Kraft European president Michael Clarke.
“We are also the world’s largest buyer of Fairtrade and Rainforest Alliance cocoa and we understand the importance of sustainability to our consumers. Here in Europe, we will continue to invest behind growing and optimising the entire chocolate portfolio.
“Kraft has the experience, capability and innovative outlook to drive growth. You only have to look at our record of growing brands in the UK, from the fantastic success of Philadelphia cream cheese and Kenco coffee to niche brands such as Carte Noire coffee and our successful 2010 launch of Belvita breakfast biscuits. Green & Black’s is in good hands.”
Green & Black’s was bought by Cadbury in 2005 – three years after the Dairy Milk maker took a minority stake in the business.
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