KRAFT FOODS CORPORATE TIMELINE

Transcription

1 KRAFT FOODS CORPORATE TIMELINE 1903 James Lewis (J.L.) Kraft rents a horse and wagon, purchases wholesale cheese and begins selling it to small stores in Chicago, Illinois J.L. Kraft & Bros. Company is incorporated, with four of J.L. Kraft s brothers Charles, Fred, Norman and John - involved in the business Business increases 125% over the preceding year J.L. Kraft & Bros. Co. establishes a New York City sales office J.L. Kraft and his brothers decide to manufacture and sell their own cheese products so the company buys its first cheese plant in Stockton, Illinois. This move eventually makes Kraft a household name throughout the world J.L. Kraft & Bros. Co. begins producing process cheese in 3-1/2 ounce and 7-3/4 ounce tins J.L. Kraft receives a U.S. patent for his method of producing process cheese in tins J.L. Kraft returns to his Canadian roots when his company purchases the MacLaren Imperial Cheese Co., Ltd. of Montreal, Quebec. The purchase marks the start of a Kraft presence in Canada J.L. Kraft & Bros. Co. headquarters is now located at 400 Rush Street in Chicago, Illinois J.L. Kraft s sales operation shows its first signs of global expansion when Kraft establishes a sales office in London. J.L. Kraft & Bros. Co. changes its name to Kraft Cheese Company. J.L. takes his company public and the first shares are traded on the Chicago Stock Exchange Net sales top $36 million Kraft Cheese Company merges with Phenix Cheese Corporation (established in 1880) of Chicago, Illinois, maker of Philadelphia cream cheese. The company name changes to Kraft-Phenix Cheese Corporation National Dairy Products Corporation (NDPC), with headquarters in New York City, acquires Kraft-Phenix Cheese Corporation in May The headquarters of Kraft-Phenix Cheese Corp., a wholly-owned subsidiary of NDPC, move to 500 Peshtigo Court in Chicago. The newly constructed building near the lakefront houses both manufacturing and head office facilities Kraft-Phenix Cheese Corporation, a subsidiary of NDPC, changes its name to Kraft Cheese Company Kraft Cheese Company, a subsidiary of NDPC, changes its name to Kraft Foods Company, a subsidiary of NDPC, to reflect its diversified food product lines.

2 1951 National Dairy Products Corporation sales, which include Kraft dressings, dinner and cheeses, top the $1 billion mark Now more than 200 consumer products carry the Kraft name. The company operates in 43 U.S. states and the District of Columbia, 8 Canadian provinces and 3 foreign countries (Australia, England and Germany). J.L. Kraft dies After nearly 30 years as a wholly-owned subsidiary of NDPC, Kraft Foods Company officially becomes the Kraft Foods Division of NDPC in June National Dairy Products Corporation changes its name to Kraftco Corporation to reflect that the company markets more than dairy products and is international in scope. Sales reach over $2.5 billion Kraftco Corporation headquarters move from New York City to Glenview, Illinois, a northern Chicago suburb Kraftco Corporation becomes Kraft, Inc. in October. The former holding company with semi-autonomous divisions is reorganized into an operating company with groups focused on specific markets Kraft, Inc. establishes the company s first European headquarters in Eschborn, Germany. Kraft, Inc. merges with Dart Industries Inc. (established in 1902 as United Drug Company) of Los Angeles, California, to form Dart & Kraft, Inc. Besides Kraft products, the company includes Duracell, Tupperware, Hobart, West Bend and Wilsonart. The company vacates its 500 Peshtigo Court building in December 1980 when it consolidated corporate and group facilities at its headquarters in Glenview, Illinois. Remaining Kraft employees move from the Peshtigo Court to Glenview in the early 1980s Dart & Kraft, Inc. spins off to shareholders most of the company s non-food businesses and changes its name to Kraft, Inc. The new Kraft, Inc. includes Kraft food and Duracell battery businesses. Kraft, Inc. acquires Tombstone Pizza Corporation The Duracell batteries business is sold to Duracell Holdings Corporation, an affiliate of Kohlberg Kravis Roberts & Co., and Kraft returns to being all food for the first time in more than 30 years. Kraft, Inc. becomes a part of Philip Morris Companies Inc., effective December 7, creating the world s largest consumer products company. Kraft is no longer a publicly traded company.

3 1989 Effective in March, Philip Morris Companies Inc. combines Kraft, Inc. and General Foods Corporation (which Philip Morris acquired in 1985) to form Kraft General Foods, Inc. (KGF), the largest food company in the United States and Canada, and the second largest in the world Construction begins on a new headquarters campus for KGF in Northfield, Illinois, with occupancy in the summer of KGF acquires Capri Sun, Inc. in the U.S., maker of all-natural ready to drink singleserve beverages KGF acquires Jack s Frozen Pizza, Inc. of Little Chute, Wisconsin Kraft General Foods acquires the U.S. and Canadian ready-to-eat cold cereal businesses of RJR Nabisco s Nabisco Foods Group. The Nabisco ready-to-eat cereal line includes Nabisco Shredded Wheat, Spoon Size Shredded Wheat and Shreddies In January, Kraft General Foods reorganizes into one operating company and changes its name to Kraft Foods, Inc. Kraft Foods North America is reorganized into 12 business divisions. Kraft Foods International is reorganized into four regional units. Kraft Foods, Inc. sells its sugar confections business (including Kraft caramels and Jet-Puffed marshmallows) in September, its bakery products business (including Entenmann s, Boboli, Oroweat and Freihofer s products) in October, and also its tablespreads business (including Parkay, Touch of Butter and Chiffon margarines) in October In September, Kraft Foods launches Kraft Interactive Kitchen (now kraftfoods.com), an internet site for consumers devoted to good food and good food ideas. Kraft Foods, Inc. acquires Taco Bell grocery products line from Frito-Lay, Inc. and Taco Bell Corp. in August Kraft acquires Boca Burger, Inc., a maker and marketer of soy-based meal alternatives, and Balance Bar Company, a maker of nutrition/energy products Philip Morris Companies Inc. makes an initial public offering (IPO) for Kraft Foods Inc. Class A common stock in the second largest IPO in U.S. history. After the IPO, Philip Morris Companies Inc. continues to own 83.9% of the outstanding shares of Kraft s capital stock. On June 13, Kraft Foods Inc. stock begins trading on the New York Stock Exchange under the symbol KFT. Kraft Foods Inc. now has two operating groups Kraft Foods North America and Kraft Foods International and two Chief Executive Officers Kraft Foods begins a major expansion of its worldwide headquarters in Northfield, Illinois. Kraft Foods Inc. releases its first annual report and holds its first annual stockholders meeting.

4 2003 Kraft Foods announces a partnership with Rainforest Alliance, a recognized international conservation leader, to support the development of sustainable coffee production in Mexico, Colombia, Brazil and Central America. In July, Kraft Foods announces global initiatives to help address worldwide rising obesity rates. These commitments supplement a variety of actions the company is taking to focus on four key areas: product nutrition, marketing practices, consumer information, and public advocacy and dialogue. Kraft Foods North America acquires the Back to Nature cereal and granola businesses from Organic Milling, Inc. a privately held manufacturer of natural products, in September. Philip Morris Companies Inc., parent company of Kraft Foods Inc., changes its name to Altria Group, Inc. In December, Kraft Foods departs from a dual Chief Executive Officer structure, and unifies the company under one global leadership team and a single Chief Executive Officer In January, Kraft Foods Inc. announces a new global One Company organizational structure comprised of three entities: global marketing and category development group, geographic-based commercial units, and corporate functions Kraft Foods North America sells its yogurt business on March 27. Included in the sale are licenses for the Breyers, Crème Savers and Light n Lively brands. Kraft Foods Inc. sells its global sugar confectionery business to Wm. Wrigley Jr. Company on June 26. Included in the sale are Altoids, Life Savers, Crème Savers, Sugus and Trolli brands. Kraft Foods Inc. joins the Dow Jones Sustainability Index for the U.S. and North America. The indexes track the financial performance of the leading sustainabilitydriven companies worldwide On June 26, 2006, the Board of Directors of Kraft Foods Inc. announces the appointment of Irene Rosenfeld as Chief Executive Officer Kraft Foods Inc. becomes a fully independent company on March 30 following its spin-off from Altria Group, Inc. Shares of Kraft Foods Inc. begin trading on the New York Stock Exchange on April Kraft Foods Inc. (KFT) replaces American International Group Inc. (AIG) in the Dow Jones Industrial Average, effective with the opening of trading on September 22. The Post cereals business is divested as part of a split-off transaction with Ralcorp Holdings, Inc. Kraft Foods is named Most Innovative Company by Consumer Goods Technology. This award recognizes the consumer goods company that continually delivered growth through new product and process innovation in 2007/2008.

5 2010 Kraft Foods sells its North American pizza business to Nestlé on March 2. Included in the sale are the DiGiorno, Tombstone and Jack's brands in the United States, the Delissio brand in Canada and the California Pizza Kitchen trademark license. On February 2 Kraft Foods acquires U.K.-based Cadbury plc for $18.5 billion The combination of Kraft Foods and Cadbury creates a global powerhouse in snacks, confectionery and quick meals. Integration of the two companies begins immediately On August 4, Kraft Foods announces its intent to split and create two independent, publically traded companies.