Kraft Foods officially changes name to Mondelez International

Chocolate, candy and biscuit manufacturer Kraft Foods Inc. has officially become Mondelez International after the demerger from Kraft’s North American grocery business, still called Kraft.

The creation of the two new separate companies – Mondelez International (snack foods) and Kraft Foods Group, Inc. (the North American grocery business) – takes effect today. Mondelez International, Inc. will begin trading on The NASDAQ Global Select Market under the ticker symbol (“MDLZ”).

Mondelez is an interpretation of the combined Latin words for “world” and “delicious”. The moniker was coined by two of Kraft’s employees and is meant to hint at the global ambitions of the new snack business which gets some 80 percent of its sales from fast-growing markets, outside the US.

Kraft Foods has been present in Romania since 1994. It is present locally with brands such as Milka, Jacobs, Oreo and Toblerone.

Kraft Foods Inc. reported revenues of USD 49.2 billion and earnings from continuing operations before income taxes of USD 3.6 billion in 2010.

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