Global Processing

Kraft sells Spanish biscuit, Hungarian chocolate businesses

April 28, 2008
Food maker Kraft Foods Inc. said recently it agreed to sell its Artiach biscuits business in Spain and its Balaton chocolate trademark in Hungary for undisclosed terms, the Associated Press reported.

Panrico, a private equity firm, will buy the biscuit business, and food company Nestle will buy the chocolate business.

Last year, the European Commission cleared Kraft''s acquisition of Group Danone''s global biscuits business, as long as it sold some trademarks in Spain and Hungary. The two sales are expected to complete that requirement.