GlaxoSmithKline’s sale of Lucozade and Ribena for £1.35bn earlier this month was the latest in a long line of iconic British brand sales topped by Cadbury.
A leading M&A lawyer has described Kraft’s plan to divide its global operations as a “hugely significant” move that could lead other multinational food businesses to demerge operations.
Union the Unite is seeking assurances about UK jobs and production at Kraft and Cadbury’s, following the announcement that Kraft is set to split its business into two independent companies.
Unite has written to Kraft ceo Irene Rosenfeld asking her to fulfil a legal obligation to consult union leaders on any changes to pay and conditions for Cadbury workers.
Despite robust overall growth, Kraft is still suffering from costs associated with its £11.5bn Cadbury purchase, according to the US giant's full-year accounts.
Kraft claims that coffee production at its Banbury site has been “relatively unaffected” by a fire on Monday morning that drew six fire crews from two counties.
The UK Takeover Panel this week issued a rare public censure of Kraft after the company was held in breach of the executive body’s code by going back on promises relating to the closure of a Cadbury chocolate factory in Somerdale.
As expected, Kraft has sweetened its offer for Cadbury, with a new proposal containing a cash element enabled by the sale of its North American pizza...
