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Kraft acquires biscuit producer

16-Jan-2002

US food and beverage company Kraft Foods Inc. announced this week that it has acquired Australian biscuit producer, Lanes Food Group. Several Nabisco brands have been licensed to Lanes in Australia since 1991.

Kraft claims that the new acquisition will provide it with a strong presence in the Australian biscuit market with global brands such as Ritz and Premium crackers and Chips Ahoy! Cookies. Lanes had 2001 sales of approximately US$50 million (€56.7m).

Terms of the agreement were not disclosed.