Kraft Food to rebrand as Mondelez International later this year
Food manufacturer Kraft Foods is set to rebrand later this year to become Mondelez International, as it moves towards becoming a global snacks company.
The new name will be introduced as the Kraft Foods divides into two industry public companies before the end of the year, one a high-margin US based grovery business and another a global snacks company.
The grocery company will become Kraft Foods Group, and will retain the Kraft brand for its corporate identity.
Kraft’s chairman and CEO Irene Rosenfeld, commented: "The Kraft brand is a perfect fit for the North American grocery business and gives it a wonderful platform on which to build an exciting future.
“For the new global snacks company, we wanted to find a new name that could serve as an umbrella for our iconic brands, reinforce the truly global nature of this business and build on our higher purpose – to 'make today delicious.' Mondelez perfectly captures the idea of a 'delicious world' and will serve as a solid foundation for the strong relationships we want to create with our consumers, customers, employees and shareholders."
The company’s employees were invited to suggest names for the new snack company, with over 1,700 names being considered. Mondelez International was taken from two separate suggestions, while the stock symbol MDLZ has been reserved.