Mondelez International unaffected by Kraft merger with Heinz, company says
Mondelez International Australia will not be affected by the global merger between Heinz and sister company Kraft Foods, with the company remaining independent of the $40 billion deal.
Kraft split its operations three years ago into two public companies, Mondelez International and a new Kraft Foods Group, bundling all its Australian operations under the Mondelez banner.
However, it is unclear whether Heinz’s operations in Australia will be affected by the merger which creates the world’s fifth largest food company, and is expected to produce savings of US$1.5 billion by 2017 worldwide, with the consolidation of media buying and creative work likely to be among the areas identified for potential synergies.
A spokeswoman for Mondelez in Australia said the merger has no bearing on the Australian business even though products, including Vegemite and peanut butter, continue to carry the Kraft brand.
Mondelez started to remove the Kraft name from Vegemite and Philadelphia cream cheese about a year ago. The Kraft name is no longer on jars of Vegemite.
I remember pitching for Kraft many years ago!
How times have changed since the mid to late 90’s…. back then a large national brand like Kraft would never dream of placing a hard to pronounce South American name on its jars of Vegemite – the country would have been up in arms!
Thanks
Paddy