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News & Insights

Separation by Kraft Foods of Global Snacks and North American Grocery Businesses

August 04, 2011

On August 4, 2011, Kraft Foods Inc. announced that its Board of Directors intends to create two independent public companies: a high-growth global snacks business with estimated revenue of approximately $32 billion and a high-margin North American grocery business with estimated revenue of approximately $16 billion. Cravath is representing Kraft Foods in connection with this transaction. Kraft Foods expects to create these companies through a tax-free spin-off of the North American grocery business to Kraft Foods shareholders. The transaction is subject to customary closing conditions and is expected to close before year-end 2012.

The Cravath team is led by partner Philip A. Gelston on corporate matters and includes partner Stephen L. Gordon on tax matters.

Related Practices & Industries

  • Corporate
  • Tax
  • Consumer Products and Services

People

Photo
Name
Philip A. Gelston
Title
Corporate
Title
Retired Partner
Email
pgelston@cravath.com
Phone
+1-212-474-1548
vCard
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    Education

    • J.D., 1977, Harvard Law School
      Sears Prize, magna cum laude
    • A.B., 1974, Harvard College
      Phi Beta Kappa, cum laude
    Photo
    Name
    Stephen L. Gordon
    Title
    Tax
    Title
    Retired Partner
    Email
    gordon@cravath.com
    Phone
    +1-212-474-9999
    vCard
    Download vCard

      Education

      • J.D., 1981, Harvard Law School
        cum laude
      • A.B., 1978, Cornell University
        cum laude

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