| 11°C Dublin

Kraft Foods breaks up

GLOBAL giant Kraft Foods is the latest US company to decide to separate its businesses, announcing that it is to split its north American grocery division from its global snacks business.

The move comes less than 18 months after its hostile $19bn takeover of the UK chocolate maker, Cadbury.

It is to spin off its grocery arm which has revenues of about $16bn and includes brands such as Philadelphia cream cheese.