1.
Companies team for technologies
NORTHFIELD, Ill., Oct. 16 (UPI) -- Kraft Foods, based in Northfield, Ill., has put its Altoids mints and Life Savers candy brands up for sale, the Chicago Sun-Times reported Saturday.
The brands, long-time staples of the check-out aisle candy world, are expected to generate wide interest among companies such as Wm. Wrigley Jr. Co., Hershey Foods Corp., Cadbury Schweppes plc., Mars Inc., and Nestle.
Kraft, proprietor of such foodstuffs as Oreo cookies, Philadelphia Cream Cheese, Oscar Mayer hot dogs, and a line of leading macaroni & cheese products, has been struggling for more than a year. Caught between rising commodity prices and changing consumer tastes, the company has seen its profits slip. Chief Executive Officer Roger Deromedi has revealed plans to cut 6,000 jobs over three years.
A sale of both brands could bring between $1.2 billion and $1.7 billion, a report in the Daily Deal estimated. Kraft has hired the investment bank UBS to run the sale.
|
|
|
|
|
|
| Additional Business News Stories | |
ASUNCION, Paraguay, May 22 (UPI) --
Land-locked Paraguay is hoping the latest investor seeking oil in its promising western region will have better results than previous prospectors.
|
WASHINGTON, May 22 (UPI) --
A U.S. Senate committee report has revived controversy over alleged counterfeit Chinese electronic components entering U.S.-made defense equipment and weapons.
|
Like housing markets overall, the market for luxury homes is growing tighter as the spring buying progresses. Though still a buyer's market, the ILHM Luxury Housing Report for last week shows a pattern of rising prices and fewer days on market since...
|
What if Europe turned out to be the new Japan?
|
| Stories | Photos | People | Comments |
View Caption
