Kraft said Friday its new North American food company will be poised to deliver long-term profit and revenue growth, while also returning cash to its shareholders.
Northfield, Ill.-based Kraft told investors at a conference in Boston that it expects the North American grocery company to post a 2013 profit of about $2.60 per share. Kraft Foods Inc. is set to split into two companies on Oct. 1. Kraft decided to spin off its global snack business in March. That company, Mondelez International Inc., will be home to brands including Oreo, Cadbury and Nabisco and trade under the ticker “MDLZ.” The North American grocery business will carry the name Kraft and include Velveeta, Miracle Whip and Oscar Mayer. Its ticker will change from “KFT” to “KRFT.”News Tribune news services