2 June 2008 – A new Spanish and Portuguese Kraft subsidiary has been created following the integration of LU, recently acquired off Danone, with the former Nabisco brands, local media report.
As a result of the acquisition, Kraft’s Spanish biscuit operations are currently worth 200 million euros a year, with its Portuguese biscuit operations accounting for an additional 50 million euros. Barcelona-based Kraft Biscuits Iberia (KBI) is now responsible for all of Kraft’s biscuits operations in those two countries.
KBI currently commends a 30% share of the Spanish sweet and salty biscuit market and owns seven of the ten best-selling brands of biscuits in Spain. It exports half of its production, operates three factories in Spain and one in Portugal, and has 930 employees.
The US food multinational completed its acquisition of Groupe Danone's global biscuit business at the end of 2007, as reported on FLEXNEWS.