Kraft Foods will spend hundreds of millions of pounds over the next decade to address a massive shortfall in Cadbury’s pension scheme.

The confectioner’s US owner will pay £30m a year into the scheme over the next nine years. The first payment has already been confirmed.

The pension plan reportedly had a shortfall of £326m at the time of the previous three-yearly valuation. That worsened dramatically from a deficit of just £8m when the previous assessment was carried out in 2007.

Read more
Kraft blows cobwebs off Halloween treats (23 July 2011)
Kraft’s Clarke chosen for Premier top job (14 July 2011)

Topics