Kraft Foods to Name New Snacks Company Mondelez

NORTHFIELD, Ill.Kraft Foods, Inc., announced it will name its global snack company spinoff Mondelez International, Inc., when it separates the international snack business from its North American grocery business before the end of the year. The new name requires approval from shareholders, who will meet May 23.

Mondelez (pronounced mohn-dah-LEEZ') is a newly coined word that evokes the idea of "delicious world."  "Monde" derives from the Latin word for "world," and "delez" is a fanciful expression of "delicious." In addition, "International" captures the global nature of the business.

In August 2011, Kraft Foods announced plans to split into an $18 billion North American grocery will become Kraft Foods Group, Inc., retaining the Kraft brand for its corporate identity and as the brand for many of its consumer products, and a $35 billion global snacks company.

The Kraft brand is a perfect fit for the North American grocery business and gives it a wonderful platform on which to build an exciting future," said Chairman and CEO Irene Rosenfeld. For the new global snacks company, we wanted to find a new name that could serve as an umbrella for our iconic brands, reinforce the truly global nature of this business and build on our higher purposeto make today delicious. Mondelez perfectly captures the idea of a delicious world and will serve as a solid foundation for the strong relationships we want to create with our consumers, customers, employees and shareholders."