Mondelez International is a multinational confectionery and food and beverage conglomerate headquartered in Illinois.
The company was founded in 1923 by Thomas H. McInnerney as National Dairy Products Corporation. It was formed to execute a Rollup strategy, where multiple small companies are merged, in the fragmented dairy industry. National Dairy acquired 55 firms from 1923 to 1931.
James L. Kraft started a wholesale door-to-door cheese business in Chicago in 1903. In 1909 he was joined by his four brothers to form the J.L. Kraft and Bros. Company. By 1914 they were selling 31 varieties of cheese around the U.S. and opened a cheese factory in Illinois. In 1915 they invented a pasteurized cheese that did not need refrigeration. In 1924 they changed their name to Kraft Cheese Company and went public on the New York Stock Exchange.
In 1930, when the National Dairy Company bought Kraft, it had forty percent of the cheese market in the U.S and was the third-largest company in the country.
In 1969 National Dairy changed its name to Kraftco Corporation, and in 1974 to Kraft, Inc. These changes reflected the changes in the company, where the focus was more on cheese than other dairy products and the original Kraft products continued to sell well.
In 1980 Kraft merged with Dart Industries, maker of Duracell batteries and Tupperware, among others.
In 1988 Phillip Morris purchased Kraft for $12.9 billion. The next year Kraft merged with Philip Morris’ General Foods to make the new company, Kraft General Foods,
In 2009 Kraft bought British confectionery Cadbury for $19.5 billion.
Today Mondelez, formerly Kraft, makes some of the best known snack brands globally. These include Oreo, Chips Ahoy!, Triscuit, Club Social, Milka, Cadbury Dairy Milk, Trident, Halls, and Chiclets. It has 100,000 employees globally and $36 billion in revenue annually.
Mondelez International
Mondelez International is a multinational confectionery and food and beverage conglomerate headquartered in Illinois.
The company was founded in 1923 by Thomas H. McInnerney as National Dairy Products Corporation. It was formed to execute a Rollup strategy, where multiple small companies are merged, in the fragmented dairy industry. National Dairy acquired 55 firms from 1923 to 1931.
James L. Kraft started a wholesale door-to-door cheese business in Chicago in 1903. In 1909 he was joined by his four brothers to form the J.L. Kraft and Bros. Company. By 1914 they were selling 31 varieties of cheese around the U.S. and opened a cheese factory in Illinois. In 1915 they invented a pasteurized cheese that did not need refrigeration. In 1924 they changed their name to Kraft Cheese Company and went public on the New York Stock Exchange.
History
In 1930, when the National Dairy Company bought Kraft, it had forty percent of the cheese market in the U.S and was the third-largest company in the country.
In 1969 National Dairy changed its name to Kraftco Corporation, and in 1974 to Kraft, Inc. These changes reflected the changes in the company, where the focus was more on cheese than other dairy products and the original Kraft products continued to sell well.
In 1980 Kraft merged with Dart Industries, maker of Duracell batteries and Tupperware, among others.
In 1988 Phillip Morris purchased Kraft for $12.9 billion. The next year Kraft merged with Philip Morris’ General Foods to make the new company, Kraft General Foods,
In 2009 Kraft bought British confectionery Cadbury for $19.5 billion.
Today Mondelez, formerly Kraft, makes some of the best known snack brands globally. These include Oreo, Chips Ahoy!, Triscuit, Club Social, Milka, Cadbury Dairy Milk, Trident, Halls, and Chiclets. It has 100,000 employees globally and $36 billion in revenue annually.