Kraft Foods to Split Into 2 Companies

One Kraft branch to deal with snacks, while other does groceries
By Newser Editors and Wire Services
Posted Aug 4, 2011 9:19 AM CDT
In this Feb. 9, 2011 file photo, a shopper selects Oreo cookies by Nabisco - part of the Kraft Foods Inc. family of brands and products, are seen at a Ralphs Fresh Fare supermarket in Los Angeles.   ((AP Photo))

(Newser) – Food behemoth Kraft Foods announced today that it plans to split into two publicly traded companies, with one concentrating on its snack business like Oreo cookies and Trident gum, while the other focuses on the North American grocery business, which includes Kraft cheese and Maxwell House coffee. The move comes as more companies, including Wal-Mart, Target, and various dollar stores, are increasing their grocery sections to capitalize on consumers' one-stop shopping needs. The food maker's stock gained 92 cents, or 2.7%, to $35.22 in premarket trading.

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