Baltic, Foodstuff, Markets and Companies

International Internet Magazine. Baltic States news & analytics Sunday, 23.02.2025, 17:16

Kraft Foods solf its snacks business in Baltics and Scandinavia to Norwegian Fepco 1 AS

Nina Kolyako, BC, Riga, 07.08.2008.Print version
The United States food and beverages giant Kraft Foods has signed a deal on selling its snacks business in the Baltic States and Scandinavia to the Norwegian "Herkules Private Equity Fund's" subsidiary company Fepco 1 AS, as informed the head of Kraft Foods Latvija Aigars Silins.

The transaction includes selling the Kraft Foods "Estrella" and "Maarud" brands in Sweden, Norway, Finland, Denmark, Estonia, Latvia and Lithuania, the "Taffel Chips" brand in Denmark, as well as assets and production plants in Norway, Sweden and Lithuania. The buyer will take over some 360 employees from five production sites.

 

Kraft Foods said LETA that selling this particular part of its business is in line with its strategy to focus on its core product categories. Kraft Foods will continue developing such brands as "Jacobs", "Gevalia", "Karuna", "Karaliskas", "Manija", "Milka" etc..

 

Kraft Foods is one of the world's largest food groups with the annual turnover exceeding USD 37 billion (LVL 17 billion), it has over 100,000 employees and operates more than 180 production plants.





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