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As of 8:10 PM 11/21/14 All times are local (Market data is delayed by at least 15 minutes).

kraft foods group inc (KRFT) Key Developments

Chi Farms Reportedly Attracts Interests

The family behind Chi Farms, which markets juice and dairy products in Nigeria, has reportedly put the company up for sale, attracting tentative interest from multinationals such as The Carlyle Group LP (NasdaqGS:CG), Kohlberg Kravis Roberts & Co. L.P. (NYSE:KKR), The Blackstone Group L.P. (NYSE:BX), The Blackstone Group L.P. (NYSE:BX) and Kraft Foods Group, Inc. (NasdaqGS:KRFT), according to people familiar with the talks. The sale, expected to conclude in early 2015, could fetch between $750 million and $1 billion, the same people said. The first round of bids is expected soon.

Kraft Foods Group, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 27, 2014

Kraft Foods Group, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 27, 2014. For the quarter, the company reported net revenues of $4,400 million, operating income of $726 million, earnings before income taxes of $607 million and net earnings of $446 million or $0.74 per diluted share compared to the net revenues of $4,394 million, operating income of $870 million, earnings before income taxes of $746 million and net earnings of $500 million or $0.83 per diluted share for the same quarter year ago. For the nine months period, the company reported net revenues of $13,509 million, operating income of $2,504 million, earnings before income taxes of $2,136 million and net earnings of $1,441 million or $2.39 per diluted share compared to the net revenues of $13,623 million, operating income of $3,077 million, earnings before income taxes of $2,700 million and net earnings of $1,784 million or $2.97 per diluted share for the same period year ago. Operating cash flow was $880 million compared to $1,119 million a year ago. Capital expenditures were $326 million compared to $374 million a year ago. Free cash flow was $554 million compared to $745 million a year ago.

Kraft Foods Group, Inc. Announces Quarterly Dividend, Payable on October 31, 2014

Kraft Foods Group, Inc. announced that its Board of Directors approved an increase in the company's quarterly dividend to $0.55 per share of common stock, an increase of approximately 5% versus the prior rate of $0.525 per share. This dividend is payable on Oct. 31, 2014 to shareholders of record as of Oct. 17, 2014.

Kraft Foods Group, Inc., Q3 2014 Earnings Call, Oct 29, 2014

Kraft Foods Group, Inc., Q3 2014 Earnings Call, Oct 29, 2014

Keurig Green Mountain, Inc. and Kraft Foods Group, Inc. Announce Licensing Agreement

Keurig Green Mountain, Inc. and Kraft Foods Group, Inc. announced a multi-year licensing, manufacturing, and distribution agreement for Kraft's branded coffees in Keurig(R) portion pack formats compatible with Keurig(R) consumer and commercial brewing systems in the U.S. With this new agreement, consumers in the U.S. can enjoy their favorite Kraft coffee brands, Maxwell House(R), Gevalia(R) and Yuban(R), along with McCafé(R), in a variety of licensed Keurig portion pack formats for both the at-home and away-from-home channels including: K-Cup(R) packs: brew the perfect cup of coffee, for use in Keurig K-Cup(R) Single Cup Brewers, the forthcoming Keurig 2.0 Brewing System, and available through Keurig Authorized Distributors for away-from-home channels; K-Carafe(TM) pack: a single portion pack optimized to brew four cups of coffee into a specially designed Keurig(R) carafe, exclusively for use in the Keurig 2.0 Brewing System; and Keurig Bolt(TM) pack: a single portion pack containing the right amount of coffee to brew a high-quality, fresh half-gallon pot of coffee from a single pack; exclusive for use in the Keurig(R) BOLT(TM) Carafe Brewing System and ideally suited for large office and food service locations. Keurig licensed Kraft-branded portion packs will begin to launch in fall 2014. Initially, both Kraft and Keurig will handle manufacturing for single-serving pods. Following a planned transition period, Keurig will become the exclusive manufacturer of Kraft-branded Keurig(R) packs using coffee sourced, roasted, and blended by Kraft. Keurig(R) hot system brewers use innovative brewing technology to deliver a fresh-brewed, perfect single cup of hot or brewed over ice coffee, tea, cocoa, or fruit brews every time at just the touch of a button. With the imminent launch of the next generation Keurig 2.0 Brewer, Keurig(R) consumers will be able to brew both a single cup and a carafe of coffee from a Keurig(R) brand pack. Consumers also will get the same Keurig(R) quality, simplicity and beverage choice they expect with more than 50 brands and more than 290 beverage varieties currently available, all brewed with Keurig's new beverage-optimizing brewing technology.

 

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