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Kraft sees kick from drinks

Though food is in its name, Kraft Foods Inc. is looking to its beverage business as a main driver of growth for its North American grocery business, which the company is splitting off from its faster-growing snacks brands later this year.

Of particular focus within its beverages division is its refreshment business, which includes Crystal Light powdered drinks, Capri Sun juices and a popular new product MiO, a liquid flavoring that is added to water and other drinks.

Kraft sees the division, which has USD1.5 billion in annual sales, growing at high single-digit or double-digit percentage rates, up from the mid-single-digit rates in the past couple of years.

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(Source: The Wall Street Journal Online)