NORTHFIELD, Ill.–(BUSINESS WIRE)–Oct. 2, 2007–Kraft Foods Inc. (NYSE:KFT), a global leader in branded food and beverages, announced today that it has agreed to sell its Fruit2O water and Veryfine juice brands and related assets to Sunny Delight Beverages Co., a leading producer of juice-based drinks in North America and Western Europe. These brands had net revenues of approximately $135 million in 2006.
"As we restore Kraft to reliable growth, we’re focusing our investments on the brands that best fit with our long-term growth strategies," said Rick Searer, Kraft Executive Vice President and President, Kraft North America. "Fruit2O and Veryfine are great brands that have found a wonderful home in Sunny Delight. However, for Kraft, we believe we will create greater long-term shareholder value by selling, rather than investing in, these brands."
About Kraft Foods: Kraft Foods (NYSE: KFT) is one of the world’s largest food and beverage companies, with annual revenues of more than $34 billion. For over 100 years, Kraft has offered consumers delicious and wholesome foods that fit the way they live. Kraft markets a broad portfolio of iconic brands in 155 countries, including seven brands with revenue of more than $1 billion, such as Kraft cheeses, dinners and dressings; Oscar Mayer meats; Philadelphia cream cheese; Post cereals; Nabisco cookies and crackers; Jacobs coffees and Milka chocolates. Kraft became a fully independent company on March 30, 2007, and is listed in the Standard & Poor’s 100 and 500 indexes. The company is a member of the Dow Jones Sustainability Index and the Ethibel Sustainability Index. For more information, visit the company’s website at http://www.kraft.com.