Kraft Acquires Groupe Danone Biscuit Business
Kraft Foods Inc. signed final agreements to acquire the global biscuit business of Groupe Danone for EUR 5.3 billion in cash subject to purchase price adjustments. Completion of the transaction is subject to certain conditions precedent in particular the approval of regulatory authorities in the countries concerned, including the European Commission. Groupe DANONE and Kraft Foods are working together in order to complete the transaction by the end of the year.