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Nestle completes Kraft Foods' frozen pizza acquisition
March 1, 2010
Packaged foods company Nestlé SA has announced the conclusion of the acquisition of Kraft Foods' frozen pizza business, after the completion of closing conditions. The process of integrating Kraft Foods' pizza business into the Nestlé Group will begin today as 3,620 Kraft Foods' pizza employees will join Nestlé.
The acquisition is an excellent strategic match for Nestlé as it brings leadership in the North American frozen pizza category, where the company had only a minor presence until now, the company said in a statement. The business complements Nestlé's existing frozen meals and snacks businesses while allowing the company to optimize its existing direct distribution network to stores across America. In addition, the acquisition enables Nestlé to leverage its pizza-making know-how in Europe.
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