Kraft pays $1.1B for British cookie maker

July 10, 2006 at 8:34 AM

LONDON, July 10 (UPI) -- Kraft Foods Inc. will spend about $1.1 billion to buy Britain's iconic United Biscuits, a noted maker of cookies.

The non-cash deal includes debt assumption, the Financial Times reported Monday. Kraft, the world's second-largest food maker, owns such brands as Maxwell House coffee and Oscar Mayer meats.

The big acquisition comes just days after Kraft's board ousted Chief Executive Officer Roger Deromedi and replaced him with Irene B. Rosenfeld.

Related UPI Stories
Topics: Oscar Mayer
Latest Headlines
Trending Stories
Ted Cruz campaign pulls ad featuring softcore porn actress
Report: Clinton Foundation subpoenaed by State Dept. watchdog over charity projects
Ruby Rose, Gigi Hadid react to Kanye West's lyric about Taylor Swift
Kristen Wiig impersonates Peyton Manning on 'The Tonight Show'
NYC police officer found guilty of manslaughter in Brooklyn stairway shooting