NORTHFIELD, Ill. — Kraft Foods is planning to create two independent public companies, which will include a global snacks business and a North American grocery business.
The company expects to create these companies — the high-growth global snacks business, which carries an estimated revenue of approximately $32 billion and the high-margin North American grocery business, which touts an estimated revenue of approximately $16 billion — through a tax-free spinoff of the North American grocery business to Kraft Foods shareholders.