Kraft Foods claims the decision to split into two companies will reinvigorate its top brands, including Cadbury.
The US giant told investors this week it would be better placed to achieve growth by separating its international snacks business, to include last year’s takeover Cadbury, from its US-based grocery operation.
“We’ve fundamentally changed the face of Kraft Foods,” said chairman and CEO Irene Rosenfeld. “We’ve successful positioned our company to deliver sustainable top-tier growth by re-invigorating our iconic brands.”
Not including Cadbury, Kraft’s British operations were up 6.6% to £562.2m, outperforming the rest of Europe, up 2.9%, according to results announced this week.