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.
