Mondel? z International, Inc. ( ), is an Illinois-based Illinois-based confectionery, food and beverage company that employs about 107,000 people worldwide. It consists of global snack and food brands from former Kraft Foods Inc. after the October 2012 spin-off from North American grocery operations. The name Mondelez, adopted in 2012, is recommended by Kraft Foods employees and derives from the Latin mundus ("world") and delez , a fantastic "delicious" word modification.
The company, headquartered in the Chicago suburb of Deerfield, Illinois, produces chocolates, cookies, gum, confectionery, and powdered drinks. The Mondelez International portfolio includes several multibillion brands such as Belvita, Chips Ahoy !, Nabisco, Oreo, Ritz, TUC, Triscuit, LU, Club Social, Barni, and Peek Freans (cakes and biscuits); Milka, Terry, CÃÆ'Â'te d'Or, Toblerone, Cadbury, Freia, Marabou, Fry, Lacta (chocolate), Trident, Dentyne, Chiclets, Halls, Stride (gum and cough) and Tang (powder drink).
The company has annual revenues of about $ 26 billion and operates in about 160 countries.
Mondelez Canada holds the rights to Christie Brown and Company, which consists of brands such as Mr. Christie and Dad's Cookies. Its headquarters are in Mississauga, Ontario, with operations in Toronto, Hamilton, Ontario and Montreal, Quebec.
Video Mondelez International
Histori
Origins
Mondelez International is rooted in the National Dairy Products Corporation (National Dairy), founded on December 10, 1923, by Thomas H. McInnerney. The company was formed to implement a roll-up strategy within the fragmented United States ice cream industry, and with the acquisition expanded into various dairy products.
McInnerney operates Hydrox Corporation, a Chicago ice cream company. In 1923, he went to Wall Street to ask the investment bankers to finance his plans to consolidate the ice cream industry of the United States. McInnerney initially faced resistance, with one banker belittling the dairy industry. He persisted, convincing the consortium (including Goldman Sachs and Lehman Brothers) to finance a scrolling strategy. As a result, the National Dairy was formed by merging McInnerney's Hydrox with Rieck McJunkin Dairy Company of Pittsburgh. The company is listed on the New York Stock Exchange, with an initial public offering of 125,000 over-demand shares.
National Dairy grows rapidly through a large number of acquisitions; typical of the rollup strategy, especially for the acquisition of National Milk stock, not cash. The company acquired more than 55 companies between 1923 and 1931, including:
Kraft
Born in Stevensville, Ontario in 1874, James L. Kraft emigrated to the United States in 1903 and started a door-to-door cheese business in Chicago. The first year of operation was "bleak", when he lost $ 3,000 and a horse. However, the business continues to run and Kraft joins his four brothers to form J. L. Kraft and Bros. Company in 1909.
In 1912, the company set up its headquarters in New York City to prepare for international expansion. In 1914, thirty-one varieties of cheese were sold in the United States and Kraft opened a subsidiary cheese factory in Illinois. In 1915 the company developed processed pasteurized cheese, which did not require cooling and had a shelf life longer than conventional cheeses. The following year Kraft started national advertising and made his first acquisition, a Canadian cheese company.
In 1924, the company changed its name to Kraft Cheese Company and listed on the Chicago Stock Exchange. Two years later, it is listed on the New York Stock Exchange. Kraft then began to consolidate the US dairy industry through acquisitions, competing with National Dairy and Borden. Acquisitions include:
In 1928 Kraft acquired Phenix Cheese Company, a Philadelphia cream cheese manufacturer, and changed its name to Kraft Phenix. The following year, The New York Times reported that Kraft Phenix, The Hershey Company, and Colgate were considering mergers.
In 1930, Kraft Phenix controlled 40 percent of the cheese market in the US and is the third largest dairy company in the country after the National Dairy and Borden. That year the company started operations in Australia, after merger with Fred Walker & amp; Together.
Acquisition of Dairy Nasional Kraft-Phenix
In the 1930 acquisition, National Dairy had sales of $ 315 million, compared to $ 85 million for Kraft Phenix. Dairy National Management manages the company. After the acquisition, the company was known as National Dairy and its management run the company until 1969, when its name was changed to Kraftco.
Despite the company's historical sales of dairy products, its product line began diversifying from dairy products to caramel candies, macaroni-and-cheese and margarine dinners. During the 1950s, he began to move away from low-value dairy products like liquid milk.
In 1933, the National Dairy began advertising on radio. Two years later Sealtest ice cream was introduced as a national brand, replacing the company's regional brand.
During World War II, the company sent four million pounds of cheese per week to England. Around this time, Thomas McInnichey and James L. Kraft died; in the late 1950s, National Dairy became more diversified, acquiring Metro Glass in 1956.
In 1947 the company sponsored an hour-long anthology drama series, Kraft Television Theater. The advertised product in the program, MacLaren's Imperial Cheese, was chosen because "... it not only has no advertising designation, but has not even been distributed for several years". According to internal documents J. Walter Thompson (advertising firm that prepares the marketing test), "Although there is no other advertising support for it, anyway the grocery store can not keep up with demand."
During 1960 Kraft introduced jelly, fruit preservative, marshmallows, barbecue sauce and Kraft Singles, slices of individually wrapped cheese. During that decade the company expanded, acquiring Dominion Dairies of Canada in 1961 in its first attempt to expand into liquid milk and ice cream outside the United States.
Dairy National to Kraft
In 1969, the National Dairy changed its name to Kraftco Corporation: "Expansion and innovation has taken us away from the regional dairy and ice cream business that we started in 1923. The dollar's sales of these original products have remained relatively static over the last ten years and , in 1969 accounted for about 25% of our sales. "The company moved to Glenview, Illinois in 1972; four years later his name was changed to Kraft as part of a reorganization, emphasizing his trademark.
Dart merge
In 1980 Kraft joined Dart Industries, Duracell battery manufacturers, Tupperware plastic containers, West Bend home appliances, Wilsonart plastic and Thatcher glass, to form Darts and Kraft. During this decade the company offered mixed results to its shareholders, as new acquisitions in the food business (such as Churny cheese, Bagel Lender, Frusen GlÃÆ'¤djÃÆ' Â © and Celestial Seasoning ice cream) slightly offset the slow non-food business (Tupperware and KitchenAid). ). Dart and Kraft separated his non-food business (except Duracell) into a new entity (Premark International) and changed its name back to Kraft. Premark was purchased by Illinois Tool Works in 1999. In 1988 Kraft sold Duracell to Kohlberg private equity firm Kravis Roberts, which included it in its 1989 public offering.
Acquisition of Philip Morris and merger with General Foods
In late 1988, Philip Morris bought Kraft for $ 12.9 billion. The following year Kraft joins the General Foods unit Philip Morris (Oscar Mayer meat producer, Maxwell House coffee, Jell-O gelatin, Gourmet Gourmet buffet dinner, Entenmann baked goods, Kool-Aid, Crystal Light, and Tang powder mix, Post Cereal , Shake 'n Bake flavored coatings, and other packaged foods) as Kraft General Foods. Product development slows after mergers, due to firm size.
In 1990, the company acquired Jacobs Suchard (a major European coffee and candy company) and Freia Marabou (Scandinavian sweets maker) for overseas expansion. Three years later he acquired RJR Nabisco cold cereal business (mainly Shredded Wheat and Shreddies cereals), sold Breyers ice cream division to Unilever and Birds Eye unit for Dean Foods. In 1994 the company sold a frozen dinner unit to Heinz, and the following year it sold its food service unit.
In 1995, the company changed its name to Kraft Foods and sold its bakery division (except Lender's Bagels, which was sold to CPC International the following year), its candy division and its division division. Log Cabin Syrup was sold in 1997.
Move business
In 2000, Philip Morris acquired Nabisco for $ 18.9 billion and merged the company with Kraft Foods. Four years later he sold the confectionery division to the Wrigley Company, Milk-Bone divestment and some wholesale brands in 2006 and Cream of Wheat, juice and Fruit2o in 2007.
Investor Nelson Peltz bought a three percent stake in Kraft Foods, and explored revitalizing the company by acquiring Wendy's fast food chain or selling Post cereal and Maxwell House coffee. In July 2007, the company purchased the Dane Groupe biscuit and cereals division (including French biscuit brand LefÃÆ'¨vre-Utile) for $ 7.2 billion. Although a hostile PepsiCo plan to take over the French company two years earlier had sparked protests, Kraft's announcement was received differently (in part because Kraft agreed not to shut down French factories and to keep the joint division headquarters near Paris for at least three years).
In February 2008, Berkshire Hathaway, run by investor Warren Buffett, announced that it had acquired an eight percent stake in Kraft (worth more than $ 4 billion); Buffett's business partner, Charlie Munger, has also invested more than $ 300 million in Kraft. According to the parent company's annual report, Berkshire Hathaway owns 5.6 percent of Kraft Foods outstanding shares. On September 22, 2008, Kraft replaced American International Group on the Dow Jones Industrial Average.
In March 2011, the company introduced MiO, a non-sourced non-sour fluid flavoring product. Although it has no artificial flavor, unlike its competitors have artificial colors, sweeteners and preservatives.
After trade liberalization in 1999, India allowed the import of international brands and Kraft decided to expand into the country. Currently, represented in India by Amit Lohani owns Max Foods Inc. and has a pan-state distribution.
Cadbury Purchase
On September 7, 2009 Kraft made a hostile 11.2 billion takeover bid for the British cotton candy group Cadbury, Milk makers and Bournville chocolates. On November 9, the company's offer (later Ã, £ 9.8 billion) was rejected by Cadbury, who called it a "making it up" bid. Kraft updated its bid on 4 December. It has significant political and public opposition in Britain and abroad, which led to calls for government to apply economic protection in the takeover of large companies. On January 19, 2010, Cadbury approved a revised offer from Kraft which rewards the company for Ã, Â £ 11.5 billion ($ 19.5 billion). Some funds for the takeover were provided by Royal Bank of Scotland, a partial state bank.
Cadbury's purchase is part of a long-term strategy of Irene Rosenfeld, CEO and chairman of Kraft since March 2007, which developed a three-year turnaround plan to boost Kraft Foods profits. Rosenfeld wants to develop new markets and expand the reach of Kraft's products when he becomes chairman. It is assumed that Cadbury purchases will help Kraft products in new markets, such as Brazil and India, due to Cadbury's presence in the market. India is one of the most powerful markets, with sales growth of 20 percent and a 30 percent profit increase. Kraft believes Cadbury's purchase is necessary because of the possibility of a Nestle-Hershey merger, and that could result in annual savings of at least $ 675 million by the end of the third year. Rosenfeld sees the Kraft-Cadbury merger as "the next logical step in our transformation towards a high-growth, higher margin" company to build "a global powerhouse in snacks, snacks and fast food."
Cadbury's purchase gives Kraft 14.8 percent of the global candy and chewing gum and the company wants to take advantage of Cadbury's distribution in emerging markets of India, Brazil and Mexico. As revenues increase in developing countries, Kraft hopes that products like Oreos will be impulse purchases for children. Mars came second in the candy market with a share of 14.6 percent, followed by Nestle with 7.8 percent.
At the time of purchase, the chocolate and sugar industry has grown at an annual rate of 15 percent annually over the previous three years and is worth $ 113 billion. Although the purchase of Cadbury is considered strange because Kraft has no foothold in the confectionery market, the company noted the production of confectionery foods such as Toblerones and baked snacks such as Oreos. Cadbury also has a brand of gum, such as Stride, Trident, Dentyne and Chiclets. Cadbury chairman Roger Carr explained his approval of the takeover: "We believe that the offer represents good value for Cadbury shareholders and is pleased with the commitment that Kraft Foods makes to our inheritance, values, and people around the world."
Cadbury sales are flat after the Kraft acquisition. Although the Cadbury takeover helped boost sales by up to 30 percent, Kraft's fourth quarter net profit fell 24 percent (to $ 540 million) due to costs associated with British business integration after acquisition. Kraft spent $ 1.3 billion on integration to reach about $ 675 million in annual savings by the end of 2012. Kraft is raising prices to offset rising commodity costs (for corn, sugar and cocoa) in North America and Europe. According to Rosenfeld, "We hope it will remain weak in the future". Taking into account the integration costs, the acquisition reduced Kraft's share per share by approximately 33% immediately after the purchase of Cadbury.
On March 17, 2010, Kraft Foods said it was "really sorry" because of the closure of the Somerdale Plant in Cadbury. Kraft's senior executive Marc Firestone made a public apology to MPs at the parliamentary elections committee. In March 2011 Kraft closed the plant, listing the site for £ 50 million and production outsourcing (which the company has promised not to do) to Poland. Although the former Cadbury worker demanded an apology for the factory's sudden sales, Kraft's CEO, Irene Rosenfeld did not explain the company's actions.
Kraft used the Cadbury brand in emerging markets to expand its product range, planning to invest $ 150 million in South African manufacturing plants for three years in April 2011. President Sanjay Khosla said, "South Africa is a priority market for us, where we focus on power brands like Cadbury chocolates ". Before scavenging their New Zealand factory Mondelez spent more than $ 100 million dividends from their New Zealand branch, although the company only posted modest gains.
Sales frozen-pizza division
On March 1, 2010, NestlÃÆ' Â © bought the North American Kraft frozen-pizza division for $ 3.7 billion. Although Kraft sets a one to three year purchase option, it does not run an option. Sales include the DiGiorno, Tombstone, and Jack brands in the United States; the Delissio brand in Canada, the license and manufacturing facility of California Pizza Kitchen in Medford and Little Chute, Wisconsin. In 2009 the business, with 3,400 employees, had net revenues of $ 1.6 billion. Kraft Foods Group and Douwe Egberts Kraft Foods Group and Douwe Egberts
In August 2011 Kraft Foods announced plans to split into two publicly traded companies, one snack and other necessities. The company changed its name to Mondelez International, specializing in snacks, in October 2012 and the second company (Kraft Foods Group, specializing in groceries) separated. Kraft Foods Group later joined Heinz to become Kraft Heinz. In 2014, the company announced a merger of its coffee business with Dutch company Douwe Egberts; the company will be named Jacobs Douwe Egberts. This merger was confirmed on May 6, 2014 and finished on July 2, 2015.
Trying to acquire Hershey
On June 30, 2016, Mondelez made a $ 23 billion offer to buy his smaller rival, Hershey. Half a half cash, Half-valued shareholder shares Hershey's shares at $ 107 per share. However, Hershey's council unanimously declined the offer.
In August 2017, it was announced that Dirk Van de Put, CEO of McCain Foods Belgium, would replace Irene Rosenfeld as CEO in November 2017.
Maps Mondelez International
Controversy
Trans-fat litigation
In 2003, a California lawyer sued Kraft for using trans fat in Oreo cookies. When Kraft Foods declared free Oreo reform trans-fat after the lawsuit was filed, it was canceled. The company denied that the change was made in response to the lawsuit, noting that reformulation had been planned well before the lawsuit.
In 2010 two California residents, Evangeline Red and Rachel Whitt filed a class action lawsuit against Kraft Foods for claiming that certain products are healthy when they contain trans fat. Kraft denied any wrongdoing, saying that all packaging claims were true and legal, after the plaintiff claimed that Kraft incorrectly labeled Thin Vegetables and Ritz crackers as "made with real vegetables".
Teddy Grahams, Ritz Crackers varieties, Honey Maid Grahams, Premium Saltine, Ginger Snaps, and Thins Vegetables contain trans fat, with Kraft presenting healthy products with phrases such as "healthy choices", "sensible snacking" and "made with real Vegetables". The plaintiffs argue that such claims violate California's Unfair Competition Act, Consumer Law Consumer Remedies and the Law of Counterfeit Advertising.
The lawsuit cites a scientific consensus on the health effects of trans fats, which cause coronary heart disease and has been linked to type 2 diabetes and some cancers. According to the American Heart Association, there is "no safe level" of trans fat in the diet.
Based on trans fats and other unhealthy substances in Kraft's products, the lawsuit states that:
- Health claims such as "healthy choices" (on Teddy Grahams) and "reasonable snacks" (on some products) are wrong.
- "No cholesterol" claims are misleading, as they imply that snacks are good for cholesterol levels when trans fats are worse for cholesterol health than dietary cholesterol.
- Claims such as "made with native vegetables" or "ginger and native molasses" are misleading, since the product contains less of these materials than trans fats.
- Although Teddy Grahams packaging is claimed to be "a good source of calcium, iron and zinc to support the growth and development of children," the claim is deceptive because its trans-fat content exceeds the mineral benefits.
- Phrases such as "whole grains" and "graham" provide health benefits for products that are not owned.
- In each package, some individual claims may be true but add to the deceptive message of overall health.
Kraft denied wrongdoing, and his response stressed that his claim was technically correct. Thins vegetables "made with real vegetables", and the company argues that the statement can not be considered misleading. Kraft uses similar arguments for claims such as "a good source of calcium, iron, and zinc to support the growth and development of children" and "whole grains".
On some packaging claims, Kraft argues that the statement can not be proved true or false; for example, the word "healthy" is subjective. Promotional statements that are too vague to prove or dispute (known as gibberish) can not be acted upon by law; Kraft argues that "healthy," "reasonable," and "clever" are very ridiculous and can not be found misleading or deceptive. Class action received $ 11,000 from the requested $ 1.8 million.
Political campaign
In 2012, Kraft contributed $ 1,950,500 to a $ 46 million political campaign known as the "Coalition Against Expensive Food Labeling Proposal, sponsored by Farmers and Food Producers." The organization was established against 37 Proposition, a California initiative that requires labeling foods containing genetically modified ingredients. As a result, there are calls for a boycott of Kraft products.
Environmental recordings
For years Kraft bought paper for packaging from Asia Pulp & amp; Paper, the world's third largest paper producer called "forest criminals" for destroying "valuable habitats" in Indonesia's rainforest. In 2011, when Kraft canceled its contract with Asia Pulp & amp; The paper, Greenpeace's executive director, Phil Radford, praised the company for "taking seriously the conservation of the rainforest".
Deforestation
In September 2017, an investigation by Perkasa Earth NGOs found that the large amount of chocolate used in chocolate produced by Mondelez and other large chocolate companies was illegally planted in national parks and other protected areas in Ivory Coast and Ghana. Countries are the two largest chocolate producers in the world.
This report documents how in some national parks and other protected areas, 90% or more of the land has been converted to cocoa. Less than four percent of Ivory Coast remains heavily forested, and the laissez-faire approach of chocolate companies to gain resources has encouraged extensive deforestation in Ghana as well. In Côte d'Ivoire, deforestation has encouraged chimpanzees to be just a few small pockets, and reduced the elephant population in the country from a few hundred thousand to about 200-400.
Wheat on futures pricing charges
The US Commodity Futures and Futures Commission (CTFC) commission said Mondelez International and its subsidiary Mondelez Global purchased $ 90 million (Â £ 61 million) of wheat futures with no intention of taking delivery. According to the CTFC, the purchase raised commodity prices and generated $ 5.4 million.
Call back
In September 2000, a $ 50 million taco shell was withdrawn by Kraft from Taco Bell's supermarket and restaurant. The shell contains genetically modified corn, which is not approved for human consumption by the Food and Drug Administration; recall is the first of genetically modified foods. Corn is supplied to a factory where Kraft buys shellfish.
In April 2009, Kraft Foods recalled products containing pistachios after the discovery of salmonella at one of its producers in Illinois. Kraft points out as a source of California pistachio growers, which initially drew more than 2,000,000 pounds (910,000 kg) of peanuts before extending memory to many crops in 2008. The Washington Post praised "aggressive food security systems at Kraft Foods "by effectively addressing the dangers. In September 2011, Kraft drew more than 130,000 cases of Velveeta Shells and Cheese microwaves microwaveable because of the possibility of wire fur inside the cup.
Leading people in the history of the company now part of Mondel? z
- Edward Francis Hutton (1875-1962) and Marjorie Merriweather Post (1887-1973), Postum Cereals, General Food
- Henry John Heinz (1844-1919), Heinz, Noble & amp; Company; son of Howard Heinz until 1941 and the grandson of Henry John Heinz II until 1987
- Johann Jacob Schweppe (1740-1821), Henri-Albert Gosse (1753-1816), Schweppes Soda Air
- George Cadbury (1839-1922), Cadbury Brothers
References
External links
- Official website
- The New York Times article on the name and rebranding of Mondelez
Source of the article : Wikipedia
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