It didn't take Irene long to strike...........
Kraft Foods Europe, which is being integrated in spun-off snack giant Mondelez International , is buying Italy's Vitasnella snack business from French foods maker Danone for an undisclosed sum as part of its consolidation plans in Europe.
The maker of Oreo cookies and Cadbury chocolates, which still operates under Zurich-based Kraft Foods Europe Gmbh in Europe, said on Friday it would retain Italian production of low-fat Vitasnella biscuits, snacks and bread derivatives.
Danone, which sold its global biscuit business to Kraft in 2007 but kept Vitasnella, was making the snacks under licence with Kraft before deciding to sell the business.
Danone will keep the Vitasnella brand for yogurt and cheese.
Neither Danone or Kraft disclosed financial details. Mondelez could not be reached for comment.
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