NORTHFIELD, Ill., Jan 15, 2002 (BUSINESS WIRE) -- Kraft Foods Inc. (NYSE: KFT),
a global leader in branded foods and beverages, announced today that its
international business has acquired privately-held biscuit producer Lanes Food
Group, allowing Kraft to gain control of key Nabisco brands which had been
licensed to Lanes in Australia since 1991.
The acquisition brings Kraft a strong presence in the Australian biscuit market
with such well known global Nabisco brands as Ritz and Premium crackers and
Chips Ahoy! cookies. Lanes also produces other local favorites such as
in-a-biskit crackers. Lanes had 2001 sales of approximately $50 million US.
Terms of the agreement were not disclosed.
Kraft currently markets leading brands in Australia including Vegemite yeast
spread, a national icon, as well as Kraft Singles, Philadelphia cream cheese,
Kraft peanut butter, Toblerone chocolates, and Maxwell House coffee.
"Biscuits are a core global category for Kraft, so we are pleased to further
expand our strong Australian business with this significant biscuit
acquisition," said Mr. Hugh Roberts, Group Vice President, Kraft Foods
International and President Asia Pacific Region. "We look forward to growing our
outstanding Nabisco brands in this market."
Kraft Foods markets many of the world's leading food brands, including Kraft
cheese, Jacobs and Maxwell House coffees, Nabisco cookies and crackers,
Philadelphia cream cheese, Oscar Mayer meats, Post cereals and Milka chocolates,
in more than 140 countries.
For more information about Kraft Foods, visit our website at www.kraft.com.
CONTACT: Kraft Foods
Jane Barr, 914/335-1410