Kraft to Divest Certain Trademarks in Spain and Hungary to Fulfill Regulatory Requirement
The actions announced are expected to complete that regulatory requirement. The sale agreements are subject to regulatory approvals prior to closing, which is expected later this year.
25/04/08 Kraft Foods Inc.announced it has signed agreements to sell the Artiach biscuits business in Spain to Panrico and the Balaton chocolate trademark in Hungary to Nestle.
These actions follow last year's decision by the European Commission to clear Kraft's acquisition of Group Danone's global biscuits business, including LU Iberia and Gyori Keksz, conditioned upon Kraft's divesting a limited number of trademarks in Spain and Hungary. The actions announced are expected to complete that regulatory requirement. The sale agreements are subject to regulatory approvals prior to closing, which is expected later this year.
The divestitures will not affect Kraft's ongoing businesses in Spain and Hungary. Kraft's ongoing focus in Spain is to grow its strong portfolio of leading biscuit, chocolate, coffee, cheese, desserts and mayonnaise brands including LU, Oreo, Fontaneda, Milka, Saimaza, Philadelphia, El Caserio, Royal and Kraft. In Hungary, the company will continue to focus on developing its strong portfolio of leading biscuit and chocolate brands such as Gyori Edes, Pilota, Milka, Sport and others.
