Kraft Foods, Northfield, Ill., is shedding its caramel and marshmallow brands toan investment group formed by Texas Pacific Group, Fort Worth, and InterWestPartners, Menlo Park, Calif. Terms were not disclosed. The move fits Kraft'soverall strategy of dropping or overhauling brands with low profitability; thetwo had combined annual sales of about $150 million. Foote, Cone & Belding,Chicago, handles the caramel and marshmallow brands, but Kraft has notadvertised them in recent years.
Copyright August 1995 Crain Communications Inc.