Simpson Thacher Represents Evercore Partners in Connection with Kraft Foods’ Plan to Separate into Two Independent, Publicly-Traded Companies
The Firm is representing Evercore Partners Inc. as financial advisor to the Special Committee of the Board of Directors of Kraft Foods Inc. (NYSE: KFT) in connection with Kraft Foods’ plan to separate the company into two independent, publicly-traded companies. The new public companies include a high-growth global snacks business with estimated revenue of approximately $32 billion and a high-margin North American grocery business with estimated revenue of approximately $16 billion. Kraft Foods plans to create these companies through a tax-free spin-off of the North American grocery business to Kraft Foods shareholders. The launch of the new companies is expected before year-end 2012.
Northfield, Ill.-based Kraft Foods is a global food company which markets biscuits, confectionery, beverages, cheese, grocery products and convenient meals in approximately 170 countries. The company’s brands include Cadbury, Jacobs, Kraft, LU, Maxwell House, Milka, Nabisco, Oreo, Oscar Mayer, Philadelphia, Trident and Tang.
The Simpson Thacher team includes Patrick Naughton and Jason Breen.