Rosenfeld - Creating an Innovation Culture at Kraft
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Case Code: BSTR469 Case Length: 20 Pages Period: 2000 - 2014 Pub Date: 2015 Teaching Note: Available |
Price: Rs.500 Organization: Kraft Foods Group, Inc. Industry: Food, Beverage Countries: US Themes: Technology and Innovation Management, Knowledge Management |
Abstract Case Intro 1 Case Intro 2 Excerpts
Background Note
Kraft traced its origins back to several companies. Throughout its history, the company followed a policy of diversification through mergers, acquisitions, and divestitures. In 1903, J.L.Kraft, along with his brothers began selling cheese to merchants in Chicago, US, after purchasing it from a wholesale market. In 1909, J.L.Kraft & Bros. Co. was formed. Over a period of time, the company began producing processed cheese through a revolutionary method that it patented in 1916. In 1924, the company went public and the shares were traded on the Chicago Stock Exchange.
In 1930, the company was acquired by National Dairy Products Corporation and for several decades it functioned as a subsidiary of the Corporation. In 1976, it was absorbed into the parent company and the combined entity was renamed Kraft, Inc. In 1988, Kraft, Inc. was acquired by the cigarette company, Phillip Morris Companies, Inc. (PMI), as part of the latter's diversification strategy to move away from tobacco. The acquisition resulted in Kraft, Inc. ceasing to be a publicly traded company.
In 1989, PMI combined Kraft, Inc. with another subsidiary, General Foods Corporation (GFC) to form a new subsidiary called Kraft General Foods, Inc. The subsidiary became the largest food company in the US and Canada, and the second largest in the world. GFC traced its origins back to the Postum Cereal Company, established in 1895. Over the years, GFC had developed several innovative products and acquired other food companies in order to extend its product line. Oscar Mayer & Co., – a market leader in the processed meats industry established in 1883, was one of the key acquisitions of GFC.......
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