Kraft Foods is to re-brand later this year and split the business into two entities, according to a company announcement made yesterday ( March 21 ). Kraft's North American grocery business will retain the Kraft name, while the new global corporation will be re-branded as 'Mondelez International.' Here is what Kraft's PR people had to say about the new name, "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.”

Kraft will split to form two public companies before the end of the year – a global snacks business targeting high growth and a North American grocery business with high margins, according to the company's statement. Until the approval by shareholders, Kraft will continue to operate and trade under its current name and stock market symbol ( NYSE: KFT). The company has reserved the stock symbol MDLZ and will announce a new stock symbol for the North American grocery business later in the year. Kraft added that, “the name change will not in any way affect the validity or transferability of any currently outstanding stock certificates, and the company will not ask shareholders to surrender for exchange any Kraft Foods Inc. certificates presently held by them.”

Kraft Foods Inc is a global snacks business marketing biscuits, confectionery, beverages, cheese, grocery products and convenient meals in approximately 170 countries, Revenues were of USD 54.4 billion in 2011. The company is also active in Romania, where it sells products under the brands Jacobs,  Nova Brazilia, Milka, Poiana, Africana, LU Pepito, LU Pim`s, Barni, Oreo, Tuc, Belvita. .

Liam Lever, liam@romania-insider.com