Closed August 2008
Kraft Foods, Inc. manufactures and markets packaged food products, including snacks, beverages, convenient meals and packaged grocery products; its products are sold in 150 countries.
Advised Kraft on the separation of its Post cereals business through a tax-free split-off and merger with Ralcorp.
Kraft separated Post cereals, a slower growth business in a challenging competitive category, to streamline its portfolio. Kraft executed the transaction as a tax-free split-off and merger to maximize after-tax shareholder value and realized approximately $2.6 billion in value.