Kraft in Talks to Buy Danone Biscuit Unit: Reports
NORTHFIELD, Ill. -- Leading manufacturer Kraft here is in talks to buy the biscuit and cereal products division of France's Danone, owner of the LU, Prince, and Tuc biscuit brands, according to published reports.
If the deal comes to fruition, it would allow Kraft to increase its presence in Europe, thus solidifying its position as the world's leading cookie maker.
Kraft had worldwide cookie sales of $5 billion in 2006. Danone, which is currently No. 2 in the global biscuit industry, brought in $3 billion from its biscuits and cereal products business in 2006. The division is the smallest and slowest-growing of its three arms.
If the deal comes to fruition, it would allow Kraft to increase its presence in Europe, thus solidifying its position as the world's leading cookie maker.
Kraft had worldwide cookie sales of $5 billion in 2006. Danone, which is currently No. 2 in the global biscuit industry, brought in $3 billion from its biscuits and cereal products business in 2006. The division is the smallest and slowest-growing of its three arms.