Kraft Foods Inc (KFT)

Beginning with just cheese, Kraft has crafted ludicrous amounts of labels under its names: A1, frozen California Pizza Kitchen, Boca, and way too many others to list. This Chicago-based company lost $3,000 and a horse (seriously) its first year of business. Now it's pulling in over $37 billion dollars annually.

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Auction at Stella D'oro Bakery Marks the End of an Era in the Bronx

BRONX, N.Y., Feb. 5 /PRNewswire/ -- On February 9th, seventy eight years of breadstick manufacturing in the Bronx will come to a close with the public auction sale of equipment from the Stella D'oro baking headquarters on West 237th Street. This announcement follows years' worth of struggle between the new owners of the facility and the employees, whom were all members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union.

Founded in 1932 by Joseph Kresivich, an Italian immigrant, it was run by the family before being sold to Nabisco in 1992. Nabisco was bought by Kraft and in 2006, Kraft sold the Stella D'oro factory to a private investing firm, Brynwood Partners. A bitter labor dispute and year long strike ensued. In the end, Brynwood sold the company to Lance Inc. and they moved production to a factory in Ohio, leaving more than 150 people unemployed, some of which had worked there for over 30 years.

The auction sale is open to the public, featuring both the very breadstick line which made this factory famous, plus 200 ft ovens previously producing all types of cookies and Italian delights. Both buyers and curiosity seekers will have a chance to wander throughout the maze of departments and rooms in this famous bakery, with a chance to view and acquire equipment relics still remaining from when the factory first opened its doors. Those interested in learning more about the auction can visit www.rabin.com or contact Rabin Worldwide for additional information at 1.800.421.2144.

SOURCE Rabin Worldwide

Events

  • September 72010
    Kraft Foods Inc. Presents at Global Food Safety, 5th Annual, Sep-07-2010
  • September272010
    KRAFT Presents at The Private Brand Movement 2010, Sep-27-2010 10:45 AM
  • September302010
    Kraft Foods Inc. Presents at 13th Annual HR Technology Conference & Exposition, Sep-30-2010 01:45 PM
  • November 52010
    Kraft Foods Inc. expected to report Q3 2010 results on November 5, 2010. This event was calculated by Capital IQ (Created on August 7, 2010).
  • January302011
    Kraft Foods Inc. expected to report Fiscal Year 2010 results on January 30, 2011. This event was calculated by Capital IQ (Created on June 27, 2010).

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