This was so confusing to me, because I remembered the jars of Cheez Whiz with KRAFT on the label. But Chuck's post helped sort it out. Mondelez did have Kraft at one time as a part of their huge conglomerate. But in 2011/12, Kraft was spun off on it's own again. Mondelez kept the snack foods. I'm not sure what the "high margin North American grocery business" is comprised of...? This write-up is fairly confusing:
In August 2011, Kraft Foods Inc announced plans to split into two publicly traded companies—a snack food company and a grocery company.b The intention was to create two independent public companies: Mondelez kept the high-growth global snacks business with estimated revenue of approximately $32 billion and Kraft Foods Group took the high-margin North American grocery business with estimated revenue of approximately $16 billion. The company arranged the split of the companies as a tax-free spin-off of the North American grocery business to Kraft Foods Inc shareholders.
In October 2012, Kraft Foods Inc changed its name to Mondelēz International. Shortly thereafter it spun off the Kraft Foods Group to its shareholders.
The write-up under Kraft Foods is slightly less confusing:
The company was formed in 2012 as a spin off from Kraft Foods Inc., which in turn was renamed Mondelēz International. The new Kraft Foods Group is focused mainly on grocery products for the North American market, while Mondelēz is an international distributor of Kraft Foods snacks and confectionery brands. Kraft Foods Group is an independent public company; it is listed on the NASDAQ tock exchange.
On March 25, 2015, the company announced its merger with Heinz, arranged by Berkshire Hathaway and 3G Capital. If the merger proceeds, the resulting Kraft Heinz Company is expected to be the fifth largest food company in the world.
Reading through the whole thing is dizzying.
Apparently, Mondelez kept Cheez Whiz because that is a "snack food", but Kraft Foods kept Velveeta because that is a "grocery product." Go figure.
Still confused, because the internet abounds with KRAFT Cheez Whiz, including places that have it for sale. So, maybe Mondelez owns the right to use the "Kraft" name on their products? Or the whole thing is a big paperwork shuffle that somehow enables them to cut their taxes (splitting into "international" and "North American markets"?) Who knows?