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Kraft Foods is North America's leading food company, and the world #2 (after Nestle)
with blockbuster brands including the eponymous masterbrand, Nabisco biscuits, Maxwell
House coffee, Oscar Mayer meats and Philadelphia cream cheese. For many years, the group was the junior partner in Altria
(formerly Philip Morris Companies), the conglomerate whose biggest division makes Marlboro cigarettes. The tobacco business
and its associated litigation had long cast a shadow over Kraft's development. Altria floated part of Kraft Foods in 2001,
but for many years was adamant that it had no plans to fully demerge its food operations. In 2004, however, the group
acknowledged that it would now consider spinning out Kraft as an independent entity, and that process was completed at the
end of March 2007. The group has continued to expand its global presence since then. In acquired Danone's
substantial Lu biscuits division in Europe the same year, and in 2009 launched an initial bid to acquire British
confectionery giant Cadbury. After an increasingly bitter battle of wills, Kraft
secured victory in early 2010 with an agreed deal of around $19bn. Advertising Age estimated global measured
advertising expenditure of $1.8bn in 2008, making Kraft the world's #18 advertiser.
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Competitors: See Food Sector index for other companies
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Kraft Foods website
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