Kraft Foods today announced it has signed an agreement to sell Cadbury’s E. Wedel-branded chocolate and sugar confectionery operations in Poland to Lotte Group for an undisclosed sum. The sale, which is subject to customary regulatory approvals, includes the E. Wedel business, its related brands and a manufacturing facility in Warsaw. Approximately 1,000 Cadbury Wedel employees will transfer to Lotte Group.Kraft Foods will keep the remaining Cadbury business in Poland, including the Halls brand... ...Read more »

In today’s environmentally aware and increasingly socially responsible society, food manufacturers are increasingly being held accountable for more than just quality and flavour.  Consumers are increasingly opting for fairtrade and sustainable products, choosing to vote with their money.  Companies that ignore this trend do so at their own risk. So Nestle found out recently, when they became the target of a Greenpeace campaign fighting to protect the rainforest and biodiversity in Indonesia,... ...Read more »

Nestle-owned candy maker Wonka is to launch its first range of premium confectionery for the US market. The Wonka Exceptionals line are “inspired” by the famous story and include; Wonka Chocolates, the Wonka Scrumdiddlyumptious Chocolate Bar and Wonka Fruit Jellies and Fruit Marvels, the firm said today (19 February). The Wonka Chocolates collection includes three varieties, each available in full-sized tablet bars and bags of individually wrapped minis. They will debut nationwide from... ...Read more »

Cadbury’s Australian employees are cautious after the takeover by US manufacturing giant, Kraft, although there are high hopes that job cuts will not eventuate. Last night, the confectioner’s shareholders voted in favour of the A$21 billion takeover, which has caused fear amongst workers in Cadbury factories worldwide. The Manufacturing Workers Union awaits news from Kraft, with the manufacturer set to contact employees at the two sites at Claremont in southern Tasmania and Ringwood... ...Read more »

Kraft has overcome the final challenge in wresting control of iconic British firm Cadbury, with the majority of the confectioner’s shareholders voting in favour of the A$21 billion takeover. “Kraft Foods is pleased to announce that it has acquired control of Cadbury plc,” the US manufacturing giant said in a statement. “The combination creates a global powerhouse … with annual revenues of approximately $50 billion and sales in approximately 160 countries.” Holders... ...Read more »

The world’s largest food group, Nestlé, is expected by analysts to look at the prospect of acquiring Hershey in the years ahead as they see themselves fall down the confectionery pecking order. The Swiss group typically maintains the lead or second position in their major categories marking their place as third in the chocolate sector behind Mars and a Cadbury-enriched Kraft as unfamiliar territory. As such, analysts believe they will look at a purchase of Hershey, albeit probably not this... ...Read more »

Hershey has advised that they will not make a bid for Cadbury in light of the revised Kraft offer that surprisingly gained the British confectioner’s support last week. Talks between Kraft’s Irene Rosenfeld and Cadbury heavyweights last Monday night helped lead the US maker of Oreo and Vegemite toward a new proposal that would be recommended by Cadbury’s Board. And, with Hershey pulling out, it now appears almost certain that the A$21 billion deal will go through. Hershey, along... ...Read more »

As UK consumers throw their arms up in despair at Kraft’s takeover of a British icon, we take a look at the impact of the $21 billion deal in Australia… Market power Kraft and Cadbury are both among the top 15 food grocery suppliers in the country with a combined portfolio of brands that will have a significant portion of the confectionery, biscuit, processed cheese and spreads sectors. A limited amount of overlap, however, has meant that Australia’s competition watchdog has given... ...Read more »

Kraft Foods’ largest shareholder Warren Buffett has labelled the company’s proposed acquisition of Cadbury a “bad deal” in a withering attack on US television. Billionaire Buffett, who owns around 10% of Kraft, questioned the US food giant’s revised offer for Cadbury, which values the UK confectioner at GBP11.5bn (A$21b). Kraft yesterday raised its bid for Cadbury after a previous GBP10.5bn failed to win over the Dairy Milk maker’s board. Buffett said he had “a... ...Read more »

Kraft Foods and Cadbury have reached an amicable takeover agreement overnight that is now only pending shareholder approval in the absence of a counterbid from potential suitor Hershey. In a change of heart on Monday, prominent members of the Cadbury leadership team met with Kraft CEO Irene Rosenfeld to work toward a revised offer that the Cadbury Board would accept. That revised offer – valuing the company at around 11.9 billion pounds or A$21b – has now been unanimously recommended... ...Read more »