Wednesday, January 06, 2010

Nestle Acquires Pizza Brands from Kraft

by Dick Mac

Nestle has withdrawn from the corporate battle to acquire Cadbury, which is being hotly pursued in a hostile take-over by Kraft.

Kraft convinced Nestle to get out of the race by agreeing to sell its pizza division to Nestle for $3.7 billion in cash.

Warren Buffet's Berkshire Hathaway, a major shareholder in Kraft, opposes the company's acquisition of Cadbury. That objection is probably rooted in financial analyses. The rest of us should oppose Kraft's acquisition of Cadbury as a matter of taste (literally).

Nestle has acquired from Kraft the pizza brands DiGiorno, Tombstone, Jack's, Delissio, and California Pizza Kitchen. Please add them to your boycott list.

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