Kraft Keeps Growing
Come October, the Kraft Foods (NYSE:KFT) we know and love will be changing. The company is splitting off its North American grocery business into Kraft Foods Group, which will trade on the NASDAQ with the ticker “KRFT.” The remaining company will be renamed Mondelez International, trading on the NASDAQ with the ticker “MDLZ.”
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Tony Vernon, president of Kraft Foods North America and the future CEO of Kraft Foods Group, said “Our aim is to be North America’s best food and beverage company, and we’ll get there by continuing to offer products consumers love, creating a performance-based culture that motivates and excites employees, and becoming the best investment in the industry.”
Shares of Kraft Foods have seen almost 30 percent growth over the last two years. The company expects the momentum to continue with 2013 earnings per share of $2.60, following generally accepted accounting principles. Kraft knows that shareholders care about dollars. With about $19 billion in revenues in 2011, strong leadership, and quality products, the company is well positioned to deliver.
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