US-based Kraft Foods is split into two independent companies and both the firms will start trading on the Nasdaq as separate entities from today.
Mondelez International will trade on the Nasdaq under the ticker'MDLZ',while Kraft Foods will own the Kraft name and trade under the ticker'KRFT'.
Kraft Foods will owns brands such as Velveeta,Miracle Whip and Oscar Mayer,while Mondelez will own brands such as Oreo,Cadbury and Nabisco.
Kraft Foods will continue to operate from its current headquarters in Northfield,Illinois,but Mondelez will shift to a new headquarters nearby in the next few weeks.
Mondelez expects to focus on advertising,research and development of new brands as well as power brands,which represented 60%of Kraft's revenue before the split.
In August 2011,Kraft Foods announced plans to form two independent public companies through a tax-free spinoff of its North American grocery business.
