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Kraft Foods eyes acquisition in Indian dairy market
Even before the Cadbury acquisition goes through, Kraft Foods, the maker of brands like Oreo and Tang, has begun to prepare for its entry into India. The company is carrying out its initial survey in the dairy market in India, reports CNBC-TV18 quoting sources.
Even before the Cadbury acquisition goes through, Kraft Foods, the maker of brands like Oreo and Tang, has begun to prepare for its entry into India. The company is carrying out its initial survey in the dairy market in India, reports CNBC-TV18 quoting sources.
Below is a verbatim transcript of Tanvi Shukla's comments on CNBC-TV18. Also watch the accompanying video.
US based Kraft Food has already begun its initial survey in the Indian diary segment. The officials from Kraft Foods has begun surveying the market and interacting with the distributors. They have even picked up samples of various dairy products, especially those of various types of cheese available in the market, to get an understanding of the Indian dairy market. Kraft Foods officials have also begun consulting with various marketing agencies and experts in India.
Kraft Foods said, "We are looking at expanding our footprint in developing markets and exploring new geographies. India is emerging as an important consumer market. The bottomline is that we look at everything and comment only when we have something to announce rather than on speculation or rumours."
Globally, Kraft Foods had bid for acquiring Cadbury in the month of September. However, that bid got rejected. The second bid is expected to come in by November 9. Experts say that they expect the deal to go through without any other frontrunners in the race. The main reason why Kraft wants to acquire Cadbury is the fact that it has a very strong presence in emerging markets, especially Asia. Kraft is one of the largest food companies in the world with an annual turnover of about USD 42 billion.
