Kraft Foods has sparked a new scramble in ad land after announcing a review of its £200m European advertising outlay.

The manufacturing giant’s UK account, currently held by London-based agency PHD, is thought to be worth almost £40m.

The move comes in the wake of Kraft’s decision to split the business in two, with the global snacks arm rebranding as Mondelez International from October.

Earlier this year Tesco ignited a similar scrap among the country’s top advertising agencies after ditching its longstanding partner, Red Brick Road. The contest was eventually won by Wieden & Kennedy.