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Mondelez International
Mondelēz International, Inc. (/ˌmɒndəˈliːz/ MON-də-LEEZ) is an American multinational confectionery, food, holding, beverage and snack food company based in Chicago. Mondelez has an annual revenue of about $26.5 billion and operates in approximately 160 countries. It ranked No. 108 in the 2021 Fortune 500 list of the largest United States corporations by total revenue.
The company had its origins as Kraft Foods Inc., which was founded in Chicago in 1923. The present enterprise was established in 2012 when Kraft Foods Inc. was renamed Mondelez and retained its snack food business, while its North American grocery business was spun off to a new company called Kraft Foods Group, which 3 years later merged with Heinz to form Kraft Heinz. The name Mondelez is derived from the Latin word mundus ("world") and delez, a fanciful modification of the word "delicious."
Mondelez manufactures chocolate, cookies, biscuits, gum, confectionery, and powdered beverages. Mondelez International's portfolio includes several billion-dollar components, among them cookie, cracker, and candy brands TUC, Nabisco (manufacturers of Belvita, Chips Ahoy!, Oreo, Ritz, Triscuit, Wheat Thins, etc.), LU, Sour Patch Kids, Barny, and Peek Freans; chocolate brands Milka, Côte d'Or, Toblerone, Cadbury, Green & Black's, Freia, Marabou, and Fry's; gum and cough drop brands Trident, Dentyne, Chiclets, Halls, and Stride; as well as Tate's Bake Shop cookies and powdered beverage brand Tang.
Mondelez Canada holds the rights to Christie Brown and Company, which consists of brands such as Mr. Christie, Triscuits, and Dad's Cookies. Its head office is in Toronto, Ontario, with operations in Brampton and Hamilton, Ontario, and Montreal, Québec.
Mondelez International is rooted in the National Dairy Products Corporation (National Dairy), which was founded on December 10, 1923, by Edward E. Rieck and Thomas H. McInnerney. The firm was initially set up to execute on a rollup strategy in the fragmented United States ice cream industry.
In 1924, Kraft Cheese Company was founded and was listed on the Chicago Stock Exchange. Two years later, it was listed on the New York Stock Exchange. In 1928, it acquired Phenix Cheese Company, the maker of a cream cheese branded as Philadelphia Cream Cheese, founded by Jason F. Whitney Sr. and the company changed its name to Kraft-Phenix Cheese Company.[citation needed]
In 1930, National Dairy acquired Kraft Phenix. After the acquisition, the combined company retained the National Dairy name and management, though the Kraft Phenix side of the company continued to operate largely independently. The company then changed its name to Kraftco Corporation in 1969, and was renamed again to Kraft Inc. in 1976. After its acquisition by Phillip Morris and the merger with General Foods Corporation in 1989, Kraft Inc. was renamed to Kraft Foods Inc. in 1995. Altria (the former Phillip Morris) sold its stake in 2007.
On September 7, 2009, Kraft made a hostile £10.2 billion takeover bid for the British confectionery group Cadbury, makers of Dairy Milk and Bournville chocolate. On November 9, the company's bid (then £9.8 billion) was rejected by Cadbury, which called it a "derisory" offer. Kraft upped its offer on December 4. It had significant political and public opposition in the United Kingdom and abroad, leading to a call for the government to implement economic protectionism in large-company takeovers. On January 19, 2010, Cadbury approved a revised offer from Kraft which valued the company at £11.5 billion ($19.5 billion). Some funds for the takeover were provided by the Royal Bank of Scotland.
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Mondelez International
Mondelēz International, Inc. (/ˌmɒndəˈliːz/ MON-də-LEEZ) is an American multinational confectionery, food, holding, beverage and snack food company based in Chicago. Mondelez has an annual revenue of about $26.5 billion and operates in approximately 160 countries. It ranked No. 108 in the 2021 Fortune 500 list of the largest United States corporations by total revenue.
The company had its origins as Kraft Foods Inc., which was founded in Chicago in 1923. The present enterprise was established in 2012 when Kraft Foods Inc. was renamed Mondelez and retained its snack food business, while its North American grocery business was spun off to a new company called Kraft Foods Group, which 3 years later merged with Heinz to form Kraft Heinz. The name Mondelez is derived from the Latin word mundus ("world") and delez, a fanciful modification of the word "delicious."
Mondelez manufactures chocolate, cookies, biscuits, gum, confectionery, and powdered beverages. Mondelez International's portfolio includes several billion-dollar components, among them cookie, cracker, and candy brands TUC, Nabisco (manufacturers of Belvita, Chips Ahoy!, Oreo, Ritz, Triscuit, Wheat Thins, etc.), LU, Sour Patch Kids, Barny, and Peek Freans; chocolate brands Milka, Côte d'Or, Toblerone, Cadbury, Green & Black's, Freia, Marabou, and Fry's; gum and cough drop brands Trident, Dentyne, Chiclets, Halls, and Stride; as well as Tate's Bake Shop cookies and powdered beverage brand Tang.
Mondelez Canada holds the rights to Christie Brown and Company, which consists of brands such as Mr. Christie, Triscuits, and Dad's Cookies. Its head office is in Toronto, Ontario, with operations in Brampton and Hamilton, Ontario, and Montreal, Québec.
Mondelez International is rooted in the National Dairy Products Corporation (National Dairy), which was founded on December 10, 1923, by Edward E. Rieck and Thomas H. McInnerney. The firm was initially set up to execute on a rollup strategy in the fragmented United States ice cream industry.
In 1924, Kraft Cheese Company was founded and was listed on the Chicago Stock Exchange. Two years later, it was listed on the New York Stock Exchange. In 1928, it acquired Phenix Cheese Company, the maker of a cream cheese branded as Philadelphia Cream Cheese, founded by Jason F. Whitney Sr. and the company changed its name to Kraft-Phenix Cheese Company.[citation needed]
In 1930, National Dairy acquired Kraft Phenix. After the acquisition, the combined company retained the National Dairy name and management, though the Kraft Phenix side of the company continued to operate largely independently. The company then changed its name to Kraftco Corporation in 1969, and was renamed again to Kraft Inc. in 1976. After its acquisition by Phillip Morris and the merger with General Foods Corporation in 1989, Kraft Inc. was renamed to Kraft Foods Inc. in 1995. Altria (the former Phillip Morris) sold its stake in 2007.
On September 7, 2009, Kraft made a hostile £10.2 billion takeover bid for the British confectionery group Cadbury, makers of Dairy Milk and Bournville chocolate. On November 9, the company's bid (then £9.8 billion) was rejected by Cadbury, which called it a "derisory" offer. Kraft upped its offer on December 4. It had significant political and public opposition in the United Kingdom and abroad, leading to a call for the government to implement economic protectionism in large-company takeovers. On January 19, 2010, Cadbury approved a revised offer from Kraft which valued the company at £11.5 billion ($19.5 billion). Some funds for the takeover were provided by the Royal Bank of Scotland.
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