News Tag: Kraft
March 16, 2010
Marc Firestone, vice-president of US food giant, Kraft, has today appeared before MPs on the Business Select Committee and has apologised for the firm’s pledge to keep open Cadbury’s Keynsham factory.
Mr Firestone was questioned by MP’s over the company’s takeover of Cadbury. Kraft completed its takeover of the 186-year-old iconic British confectioner on 2 February after a five-month battle.
Kraft, which ...
Kraft promises no further factory closures
by Kay Murchie
Kraft VP to be questioned over Cadbury factory closure
by Kay Murchie
March 8, 2010
US food giant, Kraft, is set to be investigated by the City takeover panel about whether it made misleading comments at the time of its takeover of British confectioner, Cadbury.
Kraft, which made several hostile bids for Cadbury before shareholders finally agreed to a deal, initially said a takeover of Cadbury would secure UK jobs, while keeping open its Somerdale ...
Kraft facing inquiry over Cadbury factory closure
by Kay Murchie
February 11, 2010
US food giant, Kraft, has confirmed it will close Cadbury’s Somerdale plant near Bristol with the loss of 400 jobs.
Cadbury has a UK workforce of 4,500, including 2,500 at its historic Bournville factory in Birmingham and 400 at its headquarters in Uxbridge.
The move comes after the 186-year-old iconic British confectioner, renowned for Dairy Milk, agreed to a £11.5 ...
Kraft confirms closure of Cadbury Somerdale plant
by Kay Murchie
February 3, 2010
Chairman Roger Carr, chief executive Todd Stitzer and chief financial officer Andrew Bonfield of Cadbury have announced today that they will step down from the British confectioner.
The three bosses announced their resignations following a shareholder vote which will see US food giant, Kraft, takeover the 186-year-old iconic British company in a £11.5 billion ($18.9 billion) deal.
The vote brought ...
Cadbury executives to step down following Kraft deal
by Kay Murchie
Mandelson expresses ‘disappointment’ after meeting with Kraft chief
by Kay Murchie
February 2, 2010
Cadbury shareholders have today voted in favour of the £11.5 billion ($18.9 billion) takeover deal from US giant, Kraft Foods.
Today’s vote brings an end to Kraft’s five-month battle to take control of the 186-year-old British confectioner.
Cadbury said it had received valid acceptances of the offer from shareholders representing 71.7% of the company.
Commenting on the deal, Kraft ...
Cadbury shareholders vote in favour of Kraft takeover
by Kay Murchie
January 27, 2010
Workers at British confectioner Cadbury are to stage a protest today in Bournville, Birmingham in a bid to urge shareholders to reject the takeover offer from US food giant, Kraft.
Kraft, which is renowned for brands such as Kenco coffee and Oreo biscuits, made an offer of £11.7 billion last week which 186-year-old Cadbury agreed to.
Following the announcement, Roger Carr, ...
Cadbury workers stage protest over jobs threat
by Kay Murchie
January 20, 2010
The pound gained ground against the euro yesterday as US food giant Kraft announced its takeover of British confectioner Cadbury.
The pound rose to a four-month high to 1.1477 euros as the takeover reflected the attraction of overseas companies investing in the UK, according to analysts.
Furthermore, higher than expected inflation figures boosted the prospect that the Bank of England may raise interest rates ...
Pound rises after Cadbury takeover
by Kay Murchie
January 19, 2010
According to the BBC, there will be job losses at Cadbury after it agreed to an £11.7 billion takeover by US food giant Kraft.
The news of the takeover came after Kraft has already made offers for the 186-year-old British company but they were rejected by Cadbury’s board.
Cadbury's board is supporting the latest bid from Kraft and is set to ...
Job losses at Cadburys after Kraft takeover
by Kay Murchie
Cadbury agrees £11.7bn Kraft takeover
by Kay Murchie
January 18, 2010
British confectioner Cadbury, renowned for Dairy Milk chocolate, is awaiting the next move from US food giant, Kraft.
Kraft, which is renowned for brands such as Kenco coffee and Oreo biscuits, approached Cadbury in September with an informal £10.2 billion takeover offer, which Cadbury rejected.
In November, Kraft made a second bid of £9.8 billion, which was again swiftly rejected.
Earlier this ...
Cadbury shares up as Kraft deadline looms
by Kay Murchie
January 13, 2010
Italian firm Ferrero, which makes Nutella chocolate spread and Ferrero Rocher chocolates, has declared itself out of the running for Cadbury.
Late last year it was reported that US-based Hershey Co in partnership with Ferrero, were considering a bid for Cadbury.
Hershey is the largest chocolate maker in the US and is controlled by the charitable Hershey Trust. It makes the ...
Ferrero confirms it will not bid for Cadbury
by Kay Murchie
January 12, 2010
British confectioner Cadbury, renowned for Dairy Milk chocolate, urged shareholders today not to let Kraft “steal your company with its derisory offer“.
Cadbury chairman, Roger Carr, delivered the statement after it said it had enjoyed an "outstanding" performance in 2009, which exceeded market expectations.
It said underlying revenues were up 5% in 2009, with a 6% rise in the latter ...
Cadbury attacks Kraft after it unveils ‘outstanding’ 2009
by Kay Murchie
January 5, 2010
Swiss food giant Nestlé has declared itself out of the running for British confectioner Cadbury.
Late last year, Nestlé was reported to be the latest company to make an offer for Cadbury after US food giant, Kraft, which is renowned for brands such as Kenco coffee and Oreo biscuits, approached Cadbury in September with an informal £10.2 billion takeover ...
Kraft increases offer for Cadbury as Nestlé withdraws bid
by Kay Murchie
December 15, 2009
US food giant Kraft has today reinforced its belief that a tie-up with Cadbury would “represent a uniquely complementary fit”.
Kraft is actively trying to convince Cadbury shareholders that a combination with its British rival could "deliver substantially more value" together and would benefit Cadbury staff as new jobs would be created in the UK.
Kraft warned Cadbury's shareholders that they will be "taking ...
Kraft defends bid for Cadbury
by Kay Murchie
November 23, 2009
British confectioner Cadbury, renowned for Dairy Milk chocolate, saw its shares rise today on the back of speculation that Swiss food group, Nestlé, is to be the latest company set to make an offer.
Shares in the confectioner gained more than 2% to a high of 817p - which is almost 13% above the original takeover bid, made by US food ...
Nestlé emerges as next bidder for Cadbury
by Kay Murchie
November 18, 2009
Following the hostile bid from Kraft Foods, British confectioner Cadbury is now reported to be facing a joint bid from US giant Hershey Co in partnership with Italy's confectionery group Ferrero.
According to reports, the two companies have been in secret talks "for weeks" about making the alliance.
A source close to the situation said yesterday that discussions between ...
Hershey and Ferrero mulling over joint bid for Cadbury
by Kay Murchie
November 9, 2009
The board of British confectioner Cadbury has swiftly rejected the £9.8 billion ($16.4 billion) hostile bid from US food giant Kraft.
The offer, which was put directly to Cadbury’s shareholders, was described by chairman Roger Carr as "derisory".
Kraft said it would offer 300p in cash and 0.2589 new Kraft shares for each Cadbury share, the same terms as it proposed two ...
Cadbury turns down Kraft hostile bid
by Kay Murchie
