Kraft acquires Stollwerck's Eastern European activities

- Last updated on GMT

Related tags: Kraft foods inc., Russia, Europe, Poland, Kraft

North American food company Kraft Foods Inc., announced on August
1, that it would acquire the Central and Eastern European
businesses of German-based chocolate maker Stollwerck AG.

The North American food company Kraft Foods Inc., announced on August 1, that it would acquire the Central and Eastern European businesses of German-based chocolate maker Stollwerck AG, a move that would significantly boost Kraft's presence in Russia. Terms were not disclosed, but Kraft said the Stollwerck businesses had revenues of about $150 million in 2000. Under the agreement, Kraft would gain Stollwerck's Russian, Polish and Hungarian units, including brands such as Alpen Gold, Pokrov, Tibi and Americana. According to Kraft​, this acquisition would enable it to enter the Russian sweets business for the first time, and would give the company a broad range of offerings in Poland and Hungary. The agreement is still subject to regulatory approval.

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