US food giant Kraft has set up a new Spanish and Portuguese Kraft
subsidiary following the purchase of Groupe Danone's global biscuit
business, including LU Iberia, in November 2007.
Standard & Poor's announced today that it has lowered
its credit ratings on French company Danone, based on
the projected increased debt due its proposed acquisition of
Numico.
French food group Danone has reported steady if unspectacular
growth for the third quarter of the year, with poor weather in much
of northern Europe impacting sales compared to last year's
heatwave-boosted performance.
