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52-485: Prentis Hall was built from 1909 to 1911 as a pasteurization and bottling plant for the Sheffield Farms–Slawson–Decker Company . Designed by Frank A. Rooke , who designed several other buildings for Sheffield Farms, the building costed $ 500,000 to construct and could process 75,000 quarts of milk per day. The building is noted for its façade of white glazed terracotta , which is ornately designed in

104-423: A French style. Its walls are brick with steel frame covered with concrete. The entire building was built to be vermin-proof and fire-proof. Its bottling room had a 27-foot ceiling with a skylight and large dome. It was acquired by Columbia in 1949 as part of a $ 12,000,000 expansion plan for its School of Engineering and Applied Science , and since the 1950s has hosted the university's Computer Music Center . During

156-725: A century old. The company was headquartered in Northfield, Illinois , near Chicago . Kraft was listed on the New York Stock Exchange and became a component of the Dow Jones Industrial Average on September 22, 2008, replacing the American International Group . In August 2011, the company announced plans to split into a North American grocery products business and a faster-growing global snacks company. The snack company, Mondelez International Inc.

208-515: A competitive market. Kraft believed the Cadbury purchase was also necessary because of the likelihood of Nestlé and Hershey joining together. Kraft also believed it could squeeze savings of at least $ 675m annually by the end of the third year. Irene Rosenfeld saw the Kraft Cadbury merger as the "logical next step in our transformation toward a high-growth, higher-margin company". She also justified

260-601: A full range of dairy products. By 1930 it was the largest dairy company in the United States and the world, exceeding Borden . McInnerney operated the Hydrox Corporation , an ice cream company located in Chicago, Illinois. In 1923 he went to Wall Street to convince investment bankers there to finance his scheme for consolidating the United States ice cream industry. He initially found " hard sledding " with one banker saying

312-860: A new entity ( Premark International, Inc. ) while changing its name back to Kraft, Inc. Premark was bought by Illinois Tool Works in 1999. In 1988, Kraft sold Duracell to private equity firm Kohlberg Kravis Roberts , who then put it into an initial public offering in 1989. Gillette bought Duracell in 1996, and itself was acquired by Procter and Gamble in 2005. At the end of 1988, Philip Morris Companies purchased Kraft for $ 12.9 billion. In 1989, Kraft merged with Philip Morris's General Foods unit—makers of Oscar Mayer meats, Maxwell House coffee, Jell-O gelatin, Budget Gourmet frozen dinners, Entenmann's baked goods, Kool-Aid , Crystal Light and Tang powdered beverage mixes , Post Cereals , Shake 'n Bake flavored coatings and numerous other packaged foods—as Kraft General Foods. Its aggressive product development

364-469: A result of the fact that dairy, other than cheese, was now only a minor part of the company's sales. Reorganization also occurred after the name change. In 1980, Kraft merged with Dart Industries —makers of the Duracell brand of batteries , Tupperware brand of plastic containers, West Bend brand of home appliances , Wilsonart brand of plastics and Thatcher glass—to form Dart & Kraft . During

416-501: A revised offer from Kraft, valuing the confectionery business at $ 19.5 billion (£11.5 billion). The funding for the takeover was partially provided by the Royal Bank of Scotland , the British part-state-owned bank. The Cadbury purchase was part of the long-term strategy of Irene Rosenfeld , CEO and Kraft Chairman since March 2007, who developed a three-year turnaround plan designed to drive

468-708: A vice president of the Sheffield Farms Company in charge of sales and advertising, after thirty years with the company. Joseph A. Mulvihill and Michael J. Mulvihill worked for the company from the 1890's to 1950 in the New York City and Jamaica plants. There was also a store in Rockaway during the summer months. Since 1964, the Sheffield buildings on West 57th Street between Tenth and Eleventh Avenues in Manhattan have been

520-511: Is a stub . You can help Misplaced Pages by expanding it . This article about a university or college in New York is a stub . You can help Misplaced Pages by expanding it . Sheffield Farms The Sheffield Farms–Slawson–Decker Company , known as Sheffield Farms , was a dairy that pasteurized, bottled, and delivered milk in New York City in the first half of the 20th century. It became one of

572-526: Is recognized as the old Kraft Foods Inc.'s legal successor, while the grocery company was named Kraft Foods , now a part of Kraft Heinz . Kraft Foods traced its roots to the National Dairy Products Corporation, formed on December 10, 1923, by Thomas H. McInerney and Edward E. Rieck. The firm was initially set up to execute on a rollup strategy in the fragmented United States ice cream industry. Through acquisitions it expanded into

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624-631: Is second in the confectionery market with 14.6% share, followed by Nestlé with 7.8%. At the time of the purchase, the chocolate and sugar industry had been growing rapidly at 15% over the previous three years and was valued at $ 113 billion. The purchase of Cadbury was considered strange because they did not have a strong foothold on the confectionery market, but at the time Kraft noted their production of confectionery foods like Toblerone and candy foods like Oreo. Cadbury also owned popular gum brands such as Stride , Trident , Dentyne , and Chiclets . Roger Carr , chairman of Cadbury, discussed his approval of

676-818: The CBS Broadcast Center . The company built the Sheffield Farms Stable between 1903 and 1909. It was listed on the National Register of Historic Places in 2005. National Dairy Products Corporation Kraft Foods Inc. ( / ˈ k r æ f t / ) was a multinational confectionery , food and beverage conglomerate . It marketed many brands in more than 170 countries. Twelve of its brands annually earned more than $ 1 billion worldwide: Cadbury , Jacobs , Kraft, LU , Maxwell House , Milka , Nabisco , Oreo , Oscar Mayer , Philadelphia , Trident , and Tang . Forty of its brands were at least

728-741: The Manhattan Project , Prentis Hall housed the Heat Transfer Research Facility, which performed may critical heat flux tests in order to determine the temperature a nuclear reactor would melt down . The building was investigated, along with Pupin Hall , in either 1967 or 1977 by the Energy Research and Development Administration for possible radiation contamination. Prentis Hall houses the RCA Mark II Sound Synthesizer ,

780-466: The U.S. Army for military rations during World War I . In 1916, the company began national advertising and had made its first acquisition—a Canadian cheese company. In 1924, the company changed its name to Kraft Cheese Company and listed on the Chicago Stock Exchange . In the 1925, Marye Dahnke began her career at Kraft as the company home economist, the first woman for that sector of

832-570: The United States in 1903 and started a wholesale door-to-door cheese business in Chicago; its first year of operations was "dismal", losing US$ 3,000 and a horse. It then took hold and Kraft was joined by his four brothers to form J.L. Kraft and Bros. Company in 1909. As early as 1911, circulars and advertisements were in use by the company. In 1912, the company established its New York City headquarters to prepare for its international expansion. By 1914, 31 varieties of cheese were sold around

884-462: The 1980s, Dart & Kraft offered mixed results to its shareholders, as new acquisitions in the food business—such as Churny premium cheeses, Lender's Bagels , Frusen Gladje ice cream and Celestial Seasonings tea—slightly offset the lagging nonfood business—Tupperware's decrease in sales and KitchenAid 's (acquired soon after the merger) slide in market share—leading Dart & Kraft to spin off its nonfood business (except Duracell batteries) into

936-539: The French company, Kraft's announcement was not met with the same protests, in part because Kraft agreed not to close French factories and keep the new merged divisions headquarters near Paris for at least three years. In November 2007, Kraft agreed to sell its cereal unit to Ralcorp Holdings , a major private-label food maker, for $ 2.6 billion in a form of a spin-off merger. This would add 50% to Ralcorp's sales, to $ 3.3 billion, and will be used for Kraft's debt payment, which

988-423: The Sheffield herd of Mahwah, New Jersey , produced superior milk, which in turn made fine butter. He began marketing the butter in his spare time in the city and, by 1880, had given up the law to devote himself to the dairy trade. His first innovation was to design a covered milk wagon that protected fluid milk from dust. Halsey trained other farmers to improve the quality of their milk and bought milk only from

1040-455: The U.S. because of heavy product development , expansion by marketing , and opening a wholly owned cheese factory in Stockton, Illinois . In 1915, the company had invented pasteurized processed cheese that did not need refrigeration , thus giving a longer shelf life than conventional cheese. The process was patented in 1916 and about six million pounds of the product were sold to

1092-563: The UK business after the acquisition. Kraft spent a one-time $ 1.3 billion in integration costs to achieve $ 675 million in recurring annual synergy savings by the end of 2012 (estimated). Kraft was forced to increase prices to offset rising commodity costs in North America and Europe. Kraft has had to contend with the higher cost of ingredients such as corn, sugar and cocoa. Kraft chief executive Irene Rosenfeld said, "We expect it will remain weak for

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1144-702: The best herds . In 1892, he installed the first pasteurizing machine in the United States , imported from Germany , at Sheffield Farms’ Bloomville, New York plant. The following year, pasteurization was demonstrated at the Columbian Exposition in Chicago . Commercial milk pasteurization was introduced in Baltimore in 1893, but Cincinnati is credited with the first large-scale pasteurization program in America. New York City followed in 1898, although pasteurization

1196-554: The combined business. Following the Kraft-Phenix acquisition, the firm continued to be called National Dairy until 1969 when it changed its name to Kraftco. Historically, all of the firm's sales came from dairy products. Its product lines began to diversify away from dairy products to caramel candies, macaroni and cheese dinners and margarines. From the 1950s onward, the firm began to move away from low value added commodity dairy products, such as fluid milk. This trend would continue for

1248-783: The companies separated. In 2000, Philip Morris (renamed Altria in 2003) acquired Nabisco Holdings for $ 18.9 billion and merged the company with Kraft Foods the same year. In 2001, Philip Morris sold 280 million Kraft shares via the third-largest IPO of all time, retaining an 88.1% stake in the company. In March 2004, Kraft acquired juice maker Veryfine . In 2004, it sold its sugar confectionery division to Wrigley , while doing minor divestitures—including its hot cereals division ( Cream of Wheat ) to B&G Foods in 2007, its pet snacks division ( Milk-Bone ) to Del Monte Foods in 2006, juice drinks and Fruit2o to Sunny Delight Beverages in 2007, its yogurt division to CoolBrands International and some grocery brands in 2006. In 2006,

1300-521: The company announced that its 88.1% stake would be spun off to Altria shareholders at the end of March 2007, giving each approximately 0.7 shares of Kraft for each share of Altria they owned. Kraft became an independent publicly held company. In July 2007, the company bought Groupe Danone 's biscuit (cookie) and cereal division for $ 7.2 billion, including iconic French biscuit brand Lefèvre-Utile . While two years earlier firestorms of protest had arisen over plans for American PepsiCo's hostile takeover of

1352-428: The company bought Southern European business of United Biscuits , gaining several local brands such as Galletas Fontanenda . Investor Nelson Peltz bought a three-percent stake at Kraft Foods and was talking with the executives on revitalizing the business, with options such as buying Wendy's fast-food chain or selling off Post cereals and Maxwell House coffee. On January 31, 2007, after months of speculation,

1404-459: The company sent four million pounds of cheese to Britain weekly. Product development and advertising helped the company to grow during the postwar years, launching sliced processed cheese and Cheez Whiz , a brand of process cheese sauce, in the 1950s. During these years, Thomas McInnerney, National Dairy's founder, and James L. Kraft, Kraft's founder, died, and at the end of the decade, the divisions became less autonomous and even diversified to

1456-523: The company. Later, in 1927, it established its London, United Kingdom, and Hamburg , Germany, sales offices—its first forays outside North America. Sales for 1927 were $ 60.4m. In 1928, it acquired Phenix Cheese Company, the maker of a cream cheese branded as Philadelphia cream cheese , founded by Jason F. Whitney, Sr. and the company changed its name to Kraft-Phenix Cheese Company . In 1929, The New York Times reported that Kraft Phenix, The Hershey Company and Colgate were looking at merging. In

1508-463: The dairy industry "lacked dignity". He persevered and convinced a consortium including Goldman Sachs and Lehman Brothers to finance a roll-up strategy. As a result of his efforts, National Dairy Products Corporation was formed in 1923 in a merger of McInnerney's Hydrox with Rieck McJunkin Dairy Co of Pittsburgh , Pennsylvania . The resulting firm was then listed on the New York Stock Exchange with

1560-609: The deal from shareholders. Instead, production was immediately outsourced to Poland. The Somerdale Factory was closed just days after the takeover by Kraft Foods. Former Cadbury workers demanded an apology for the abrupt selling of the plant, but Kraft's CEO Irene Rosenfeld refused to explain her actions. Kraft continues to use Cadbury brands in emerging markets to expand all of its products. In April 2011, Kraft set to invest $ 150 million in South Africa's manufacturing plants over three years. President Sanjay Khosla said, " South Africa

1612-480: The firm acquired Dominion Dairies of Canada, marking the first effort by the firm to expand into fluid milk and ice cream outside the United States. In the same year it also acquired The Southern Oil Company in Manchester , England. In 1969, the firm changed its name from National Dairy to Kraftco Corporation . The reason for the name change was given at the time: "Expansion and innovation have taken us far afield from

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1664-464: The firm, through neglect and divestiture, until the primary remaining dairy product produced by the firm would be cheese. As a result, the modern history of the firm emphasizes the cheese history. In 1933, the company began marketing by radio sponsorship. In 1935, the Sealtest brand of ice cream was launched as a unified national brand to replace the firm's numerous regional brands. During World War II,

1716-405: The first programmable music synthesizer, which takes up an entire office wall. It was moved from RCA by to the university by Otto Luening and Vladimir Ussachevsky , who helped design the instrument, and pioneers of electronic music. 40°48′59″N 73°57′34″W  /  40.8165°N 73.9595°W  / 40.8165; -73.9595 This article about a building or structure in New York

1768-713: The food industry. In 1926, Kraft was listed on the NYSE. The firm then began to consolidate the United States dairy industry through acquisition, in competition with National and Borden. Firms acquired included: in May 1926 the Kraft Walker Cheese Co. was registered in Australia. It was a separate company from Fred Walker & Co. but managed by the same staff. Fred Walker was chairman by 1930, and after his death in July 1935, Kraft acquired

1820-420: The foreseeable future." Taking into account integration costs, the acquisition knocked about 33% off Kraft's earnings per share immediately after the purchase of Cadbury. In March 2011, Kraft caused national outrage when they sold the site of a historic Cadbury factory it vowed not to close for £50 million after initially publicly promising the continuity of production within the UK in order to win over support for

1872-550: The glass-packaging business with the acquisition of Metro Glass in 1956. In 1947, the company tested the marketing power of the emerging medium of television by producing an hour-long drama/anthology series, Kraft Television Theatre . The product advertised on the program, MacLaren's Imperial Cheese, was selected because "... [it had] not only had no advertising appropriation whatsoever, but had not even been distributed for several years." As described by internal documents of J. Walter Thompson —the advertising firm which conceived of

1924-417: The holding company's 2010 annual report . On September 22, 2008, the company replaced the troubled insurance company American International Group in the Dow Jones Industrial Average . On September 7, 2009, Kraft made a £10.2 billion takeover offer for the long-established British confectionery group Cadbury, makers of Dairy Milk and Bournville chocolate. On November 9, 2009, Kraft's £9.8bn takeover bid

1976-438: The largest dairy companies in the world, selling 20% of the city's milk. The company played a major part in transforming commercial milk into a clean and healthy product. L. B. Halsey, a lawyer who married Sarah Frances Sheffield (daughter of the late John H. and Anne Maria Sheffield), became interested in the dairy business when called upon to help deliver his widowed mother-in-law’s butter. Through careful selection and breeding,

2028-442: The marketing test—the result was "although there was no other advertising support for it whatsoever, still grocery stores could not keep up with the demand." In the 1960s, product development became intense, launching fruit jellies , fruit preserves , marshmallows , barbecue sauces and Kraft Singles, a brand of individually-wrapped cheese slices. During this decade, the company also expanded in many markets worldwide. In 1961,

2080-446: The merger in order to build a "global powerhouse in snacks, confectionery and quick meals". Following the purchase of Cadbury, Kraft commanded 14.8% of the global candy and gum market. Kraft argued that it could take advantage of the Cadbury distribution in developing markets of India, Brazil and Mexico. As incomes rise in these developing nations, Kraft hopes that products such as Oreo will become impulse buys for children. Mars, Inc.

2132-484: The new firm’s president: a post he held until his death in 1926. At that time, Sheffield Farms Co. (the name was eventually shortened from Sheffield Farms–Slawson–Decker) was the largest dairy products company in the world, with nearly 2,000 retail routes and over 300 stores, mostly in New York City. Just before his death, Horton had sold the company to the National Dairy Products Corporation . It

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2184-545: The offer of 125,000 shares having been oversubscribed. The firm grew quickly through a large number of acquisitions. As is typical in a roll-up strategy, acquisitions were primarily for stock in National rather than cash. National Dairy Products Corporation acquired more than 55 firms between 1923 and 1931, with a few notable entities among those: Born in Stevensville , Ontario , Canada, in 1874, James L. Kraft immigrated to

2236-548: The present name, Kraft Foods. The same year, it sold its bakery division (except Lender's Bagels, which was sold in 1996 to Kellogg Company ), its caramel & marshmallow divisions and its tablespreads division. Log Cabin syrup was sold in 1997. On August 2, 1996, Kraft announced a deal with PepsiCo to market the Taco Bell brand of grocery products. By 2007, Philip Morris (now Altria Inc.) sold its stake in Kraft foods and

2288-422: The profitable growth of Kraft Foods. Rosenfeld wanted to develop new markets and expand product range when she assumed the role of chairman. It was assumed that the purchase of Cadbury would help Kraft products develop in new markets such as Brazil and India because of Cadbury's current strong presence in those markets. India is one of its most resilient markets with sales growth of 20% and profits growing at 30% in

2340-404: The regional milk and ice cream business we started with in 1923. Dollar sales of these original products have remained relatively static over the past ten years and, in 1969 accounted for approximately 25% of our sales." At the same time, the firm transferred to Glenview , Illinois, in 1972. In 1976, its name changed to Kraft, Inc. to emphasize the trademark the company had been known for and as

2392-467: The same year, it was reported that National, Borden and Standard Brands (a firm that is now part of Kraft Foods) were all looking at acquiring the firm. By 1930, it had captured forty percent of the cheese market in the U.S. and was the third largest dairy company in the United States after National Dairy and Borden. At the time of the acquisition in 1930, National Dairy had sales of $ 315m compared with $ 85m for Kraft Phenix. National Dairy management ran

2444-433: The takeover by Kraft by saying, "We believe the offer represents good value for Cadbury shareholders and are pleased with the commitment that Kraft Foods has made to our heritage, values and people throughout the world." Cadbury sales were flat after Kraft's acquisition. Despite the Cadbury takeover helping boost sales by 30%, Kraft's net profit for the fourth quarter fell 24% to $ 540m due to costs associated with integrating

2496-420: Was at $ 13.4 billion, in danger of a downgrade by Standard and Poor's. In February 2008, Berkshire Hathaway ,run by billionaire investor Warren E. Buffett , announced that it had acquired an 8% stake in Kraft then worth over $ 4 billion. Buffett's business partner Charles Munger had also invested over $ 300 million in Kraft. Berkshire Hathaway owned 5.6% of the outstanding stock of Kraft Foods, as reported in

2548-502: Was formed in 1923 as a merger of several dairy concerns and continued to grow through acquisitions, the most important of which was the addition of Sheffield Farms. Others included Breyers Ice Cream, also purchased in 1926, and Kraft-Phenix Cheese Corporation, in 1930. All of the companies continued to operate independently, marketing products under their recognized brand names. In 1969, National Dairy Products became Kraftco and then Kraft in 1976. Horace S. Tuthill, Jr. retired in 1950 as

2600-419: Was not required for some years. Slawson Brothers entered the milk distribution business in 1866. Loton H. Horton (April 22, 1852 – December 15, 1926), a Slawson on his mother’s side, began driving a milk wagon for his uncle when he was 16. He quickly rose to lead the company, becoming a partner at the age of 21 and principal owner in 1898. When the company merged with T. W. Decker and Sheffield Farms, he became

2652-488: Was rejected by Cadbury. Cadbury stated that the takeover bid was a "derisory" offer. Kraft renewed the offer under the same terms on December 4, 2009. The offer generated significant political and public opposition in the United Kingdom and abroad, even leading to calls for the government to implement a policy of economic protectionism in cases of takeovers of large companies. On January 19, 2010, Cadbury finally approved

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2704-752: Was reversed after the merger, as it became slow in addressing issues on its product lines due to its size, and also company politics. In 1990, the company acquired Jacobs Suchard (a European coffee and confectionery giant) and Freia Marabou (a Scandinavian confectionery maker) to expand overseas as its business was heavily dependent on the U.S. In 1993, it acquired RJR Nabisco 's cold cereal business (mainly Shredded Wheat and Shreddies cereals), Terry's of York from United Biscuits , while selling its Breyers ice-cream division to Unilever and its Birds Eye unit to Dean Foods . In 1994, it sold its frozen dinners unit to H.J. Heinz and in 1995, it sold its foodservice unit. In 1995, it changed its name to

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