Print page

Home » Packaging » Meat doesn't mesh with Kraft's long-term goals

Meat doesn't mesh with Kraft's long-term goals

03/09/2005

Kraft Foods CEO Roger Deromedi left meat off the list of businesses the Northfield, Ill.-based company will focus on as it tries to drive growth, reports Crain’s Chicago Business. Deromedi told investors that Kraft would concentrate on cheese and dairy, crackers and cookies, coffee and specialty beverages.

"It seemed apparent that they were dressing Oscar Mayer up for a sale," says Tim Ewing, senior vice-president and co-manager of the large-cap value portfolio at Mesirow Financial Inc., which holds 200,000 Kraft shares. "We've thought for some time that they'll spin off Oscar Mayer."

Morningstar Inc. analyst Mark Hugh Sam says, "I believe Sara Lee would be the most logical buyer of Oscar Mayer. The only others that could afford it would be ConAgra, Tyson or Smithfield."

More News:

Subscriptions

Digital EditionsDigital Editions

Access Food Processing and Wellness Foods magazines on-line and receive an e-mail each month when your new issue is ready. Subscribe Now »

E-NewslettersE-Newsletters

Biweekly updates delivering feature articles, top industry news, company news, product announcements, technical issues and more. Subscribe Now »

  • Featured White Papers