Kraft Food has completed the acquisition of United Biscuits' Iberian operations and recovered the rights to key Nabisco trademarks in Europe, the Middle East and Africa, including Oreo, Ritz and Chips Ahoy!
The US food and beverage giant said the acquisition, originally announced in July, was valued at $1.1 billion, consisting of the assumption of $537 million of debt issued by United Biscuits immediately prior to the transaction.
In a recent statement, Joachim Krawczyck, president of Kraft’s operations in the EU region, said: Bringing our Nabisco trademarks back into our product portfolio, coupled with the addition of strong local Iberian biscuit brands, is another step in increasing shareholder value as we further improve our growth potential in this key region.