June 14, 2013
/PRNewswire/ -- Kraft Foods Group (NASDAQ:KRFT) today announced plans to create two new, standalone business units:
Meals and Desserts
Enhancers and Snack Nuts
. With the creation of these new business units, the company will be able to place even greater focus on brand-building while reducing the complexity of managing a portfolio with many distinct brands and product categories. The new business structures and leadership appointments are effective
"Since we launched the new Kraft, we've focused heavily on turbocharging our iconic brands. And we've made a lot of progress thanks to great marketing and innovation," said
, Kraft CEO. "With the creation of our two newest business units and great leaders in place, we're taking an important step to strengthen our focus on some of the most beloved brands in
Two New Business Units, Many Well-Known Brands
The business units are being created by dividing the brands in the company's Grocery segment into two standalone business units. Categories and brands that have natural synergies like
will remain together. The
brand will benefit from having the snack nuts and peanut butter categories managed under one leadership structure.
The business units will include many of Kraft's leading brands:
- Meals and Desserts -- Cool Whip whipped topping, Jet-Puffed marshmallows, JELL-O dry packaged and ready-to-eat desserts, Kraft Mac & Cheese dinner, Shake 'N Bake coatings, Stove Top stuffing mix and Velveeta dinners and meal kits.
- Enhancers and Snack Nuts -- A.1. steak sauce, Grey Poupon premium mustards, Kraft and Bulls-Eye barbecue sauces, Kraft and Good Seasons dressings, Kraft and Miracle Whip spoonable dressings and Planters nuts, trail mixes and peanut butters.
Kraft will begin reporting the financial results of these business units as separate segments at the end of its third fiscal quarter 2013. The company will also make historical results for these new segments available by the end of its third quarter.