This filing relates to the company’s previously announced plan to divide and create two public companies before the end of 2012: a high-growth global snacks business and a high-margin North American grocery business.
Chairman and CEO Irene Rosenfeld, said: “The filing of the Form 10 Registration Statement is an important step in the process of establishing the North American grocery business as a new, stand-alone company with its own strategic focus and priorities. We believe that this business is well-positioned for success as an independent company.”
Kraft Foods intends to spin-off its North American grocery business through a tax-free distribution of shares to shareholders. Following the transaction, the North American grocery business will be an independent, public company operating under the Kraft Foods Group name.
Source: Kraft Foods
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