Kraft's CEO Irene Rosenfeld in a statement. "Our strategic actions have put us in a position to create two great companies each with the leadership, resources and strong market positions to realize their potential."
It will also create a North American grocery business with revenue of $16 billion, including such brands as Jell O desserts, Oscar Mayer processed meats and Kraft macaroni and cheese.
The company said revenues Air Force Mid Vs High were driven by a 19% year over year increase in Europe, and a 23% surge in developing markets. These two markets account for more than half of all corporate revenue.
Kraft also said it has completely absorbed Cadbury PLC into the company, 18 months after the merger with the British food and beverage company. The merger is one of the reasons why the company is choosing to split now.
"We have built two strong, but distinct portfolios," said Nike Air Force 1 Low Black And Grey
Rich Silverman, spokesman for Dow Jones Indexes, said it's too early to tell whether Kraft will lose its status as a Dow Jones component as a result of the split.
Kraft to split into two companies
a year ago.
companies before the end of 2012.
Kraft said that it will create a global snacks business with revenue of $32 billion, containing such brands as Oreo cookies, Trident gum and Cadbury chocolates.
The company also reported diluted earnings of 55 cents per share, up nearly 4% from Blue Air Force 1 Low
Kraft also announced Thursday morning that its revenues beat expectations jumping 13% to $13.9 billion in the second quarter, compared to a year ago. A consensus of analysts surveyed by Thomson Reuters had forecast revenue of $13.1 billion.
Kraft said it hopes to launch the two new Nike Air Force 1 Black Womens
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