|
|
|
|
|
Kraft takes a bite of United Biscuits World's second-largest food company will pay about $1.1B for the Spanish and Portuguese operations of the British biscuit-maker. LONDON (Reuters) -- Kraft Foods Inc. on Monday said it will buy the Spanish and Portuguese operations of British cookie maker United Biscuits, combining brands like Fontaneda and Artiach with Ritz crackers and Gevalia coffee. The deal, valued at $522 million, plus the assumption of debt, also gives to Kraft the rights to all Nabisco trademarks, including Ritz and Oreo cookies, in the European Union and other areas. United Biscuits has held the right to those trademarks in the European Union, Eastern Europe, the Middle East and Africa since 2000, when it purchased them from Nabisco about six months before Nabisco was bought by Kraft. Kraft (Charts) will exchange its 25 percent stake in United Biscuits for the businesses it is acquiring and will also assume $548 million of debt. The deal is also expected to add 2 cents a share to Kraft's earnings in the first year after the deal closes, the company said. Kraft said it expected the deal to close in the third quarter. ------------------------------ Related: WPS to buy Peoples Energy |
|
* : Time reflects local markets trading time. † - Intraday data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. Disclaimer
| Copyright © 2009 BigCharts.com Inc. All rights reserved. Please see our Terms of Use. MarketWatch, the MarketWatch logo, and BigCharts are registered trademarks of MarketWatch, Inc. Intraday data provided by Interactive Data Real-Time Services and subject to the Terms of Use. Intraday data is at least 20-minutes delayed. All times are ET. Historical, current end-of-day data, and splits data provided by Interactive Data Pricing and Reference Data. Fundamental data provided by Morningstar, Inc.. SEC Filings data provided by Edgar Online Inc.. Earnings data provided by FactSet CallStreet, LLC. |
