Nestlé completes acquisition of Kraft Foods’ frozen pizza business
Vevey, Switzerland - Nestlé has concluded the acquisition of Kraft Foods’ frozen pizza business on 1 March 2010 after the completion of closing conditions. Consequently, the process of integrating Kraft Foods’ pizza business into the Nestlé Group will begin today as 3,620 Kraft Foods’ pizza employees, with their valuable talent and category expertise, will join Nestlé.
This acquisition is an excellent strategic match for Nestlé as it brings leadership in the North American frozen pizza category, where the Company had only a minor presence until now. The business complements Nestlé’s existing frozen meals and snacks businesses while allowing the Company to optimize its existing direct distribution network to stores across America. In addition, this acquisition enables Nestlé to leverage its pizza-making know-how in Europe.
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