Kraft Foods has no plans to sell Green & Black's
January 18, 2011
Despite press reports earlier in the week, Kraft Foods has no plans to sell Green & Black’s, the U.K.-based organic chocolate manufacturer.
The U.S. food manufacturer indicated instead that they wish to continue investing and building their chocolate portfolio in Europe.
“Kraft Foods has the experience, capability and innovative outlook to drive growth. You only have to look at our record of growing brands in the UK, from the fantastic success of Philadelphia cream cheese and Kenco coffee to niche brands such as Carte Noire coffee and our successful 2010 launch of Belvita breakfast biscuits,” says Michael Clarke, president of Kraft Foods Europe. “Green & Black’s is in good hands.”
There were some stirrings that Green & Black’s wanted to orchestrate a management buyout in order to regain more individual ownership in the company.
Kraft acquired the chocolate company in early 2010 after it bought Cadbury PLC, which had purchased Green & Black’s six years ago.
For more information visit www.kraftfoodscompany.com