A Quick Turnover for Kraft
By Chuck Sudo in Food on Oct 3, 2007 4:32PM
Yesterday, Northfield-based Kraft Foods announced it reached a deal to sell its Fruit2o bottled water and Veryfine juice brands to Sunny Delight Beverages Co. In announcing the sale, Kraft said the brands no longer fit with the company's long-term growth strategies, even though the brands generated $135 million in revenue.
Here's the kicker: Once completed, the sale also includes a manufacturing plant in Massachusetts, manufacturing equipment, and the transfer of 200 employees to Sunny Delight. Note that last item. It isn't as harsh as a full-on layoff, but who knows how long Sunny D might want them around.