Kraft Inks Iberian Purchase Pact

Kraft (KFT Quote) plans to acquire the Spanish and Portuguese operations of United Biscuits, and at the same time the company will regain the rights to all Nabisco trademarks, including Oreo and Ritz, in the European Union, Eastern Europe, the Middle East and Africa.

In addition to the Nabisco trademarks, the United Biscuits operations being acquired include several local biscuit brands, such as Fontaneda, Filipinos, Artiach, Chiquilin and Triunfo, as well as the dry-dessert business Royal.

The deal also includes United's Iberian canned meat, tomato and fruit juice businesses that are sold under the brand names Apis and Fruco, seven manufacturing facilities and 1,300 employees. Together, the businesses generated net revenue of around $400 million last year. ...