Kraft reaches preliminary agreement to acquire Egyptian biscuit company
Kraft Foods has reached a preliminary agreement to acquire the Family Nutrition Company, a producer of biscuits and snack cakes in Egypt. The pending transaction is subject to final agreement and regulatory approvals. Terms of the acquisition were not disclosed.
The Family Nutrition Company is a privately owned family business with 2002 revenues of approximately $40 million and employing over 1,800 employees.
Kraft Foods is the second largest branded food and beverage company worldwide. The company markets many of the world's leading brands, including Kraft cheese, Maxwell House coffee, Nabisco cookies and crackers and Philadelphia cream cheese. — (menareport.com)
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