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4 Dec, 2007 07:58

U.S. food major buys Bolshevik bisuits

Kraft Foods has bought the Danone Biscuit Unit, which includes Moscow's Bolshevik biscuits factory, for $US 7 billion.

The deal will bring combined sales for the Russian division of Kraft Foods and Bolshevik to nearly $US 1 billion a year.

The US company already has $US 200 million invested in Russia, and a staff of more than 1,500 employees.

The combined company will also be a significant player in the confectionery, coffee and chocolate markets.