"Our aim is to be North America's best food and beverage company, and we'll get there by continuing to offer products consumers love, creating a performance-based culture that motivates and excites employees and becoming the best investment in the industry."
- Kraft CEO Tony Vernon
Kraft Foods Group is one of the biggest FMCG companies in North America with the annual revenues of more than $18 billion. With the courage of a startup and the base of a powerhouse, they have a mission to be one of the best food and Beverage Company in North America. We have a deep portfolio of beloved food & beverage brands in the beverage, cheese, refrigerated meals and grocery categories. Their products can be found on the shelves and refrigerators of every house in the United States and Canada.
They expect to be well-positioned over the long term to deliver steady, reliable growth with a strong focus on cash flow to fund a highly competitive dividend and reinvestment in our people, innovation and brand-building.
Kraft Foods, Pakistan, has acquired famous brand TANG for Rs 65 Crore from Clover Pakistan. The sale completed in few weeks, subject to approval from Competition Commission of Pakistan.
Clover Pakistan, the owner of TANG brand in Pakistan, and Kraft Foods Limited entered into an Asset Purchase agreement whereby Clover agreed to sell to Kraft Foods certain assets relating to Clover’s TANG business, including the manufacturing facilities, leasehold land measuring 19,000 square meters and free hold land of 7,175 Acres and intangible assets relating to TANG business, including termination of the users’ rights, the provision of a list of the company’s customers, selling trade outlets and distributors.
The deal is subject to obtaining exemption from Competition Commission of Pakistan, an undertaking from the company not to compete in the non-carbonated fruit flavored powdered beverage business for a period of 2 years.
The Pakistan’s consumer food market which