Kraft Sells 2 Units to Nabisco: Kraft Foods Inc. said it sold its U.S. and Canadian margarine businesses, including the Parkay, Touch of Butter and Chiffon brands, to Nabisco Inc., shedding another of its less-profitable units. Terms of the purchase were not disclosed. Last year, the unit's revenue was $255 million. Kraft, a unit of New York-based Philip Morris Cos., has been selling off its less-profitable units and buying divisions with higher profit margins. Since 1989, the company has sold 15 businesses with revenue of about $7.2 billion and an average operational margin of about 3% of sales. It has also bought eight units with $880 million in revenue and an average operational margin of 16% of sales.
Times Staff and Wire Reports
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