I've been sold ........ again

[roscoe]

We found out the other day, that the company I work for is being sold.

Kraft Foods, is selling Kraft Pizza Co (Tombstone, DiGiorno, Jacks, California Pizza Kitchen, and Delissio brands), to Nestle Corp.

It seems Kraft is in need of cash to further its hostile takeover attempt of Cadbury. So, Kraft gets gobs of cash, and Nestle gets a company that has enjoyed double digit growth for 16 straight quarters, and makes 40% of frozen pizzas sold in the USA and Canada.

Don't know what to think of it.
I guess it doesn't really matter. Been there - done that, twice already.

 

[Jeep Man]

Re: I've been sold ........ again

We found out the other day, that the company I work for is being sold.

Kraft Foods, is selling Kraft Pizza Co (Tombstone, DiGiorno, Jacks, California Pizza Kitchen, and Delissio brands), to Nestle Corp.

It seems Kraft is in need of cash to further its hostile takeover attempt of Cadbury. So, Kraft gets gobs of cash, and Nestle gets a company that has enjoyed double digit growth for 16 straight quarters, and makes 40% of frozen pizzas sold in the USA and Canada.

Don't know what to think of it.
I guess it doesn't really matter. Been there - done that, twice already.

What's to come....chocolate chip pizza?

 

[heycods]

Re: I've been sold ........ again

Sorry man, know its a hassel with the economy the way it is. Seems nothing is sure anymore!

 

[trendsetter240]

Re: I've been sold ........ again

We found out the other day, that the company I work for is being sold.

Kraft Foods, is selling Kraft Pizza Co (Tombstone, DiGiorno, Jacks, California Pizza Kitchen, and Delissio brands), to Nestle Corp.

It seems Kraft is in need of cash to further its hostile takeover attempt of Cadbury. So, Kraft gets gobs of cash, and Nestle gets a company that has enjoyed double digit growth for 16 straight quarters, and makes 40% of frozen pizzas sold in the USA and Canada.

Don't know what to think of it.
I guess it doesn't really matter. Been there - done that, twice already.

Well, that could be good or bad news for you. Usually there are some amount of redundencies during large takeovers such as this. Also, take some time to find out who exactly you will be working for.

Some of Nestle's business practices have led me to make a personal choice not to use their products. Specifically their bottled water division. But to each his own. I've never heard anything negative about how they treat their employees.


All the best to you

 

[roscoe]

Re: I've been sold ........ again

We were thinking 'smores pizzas. LOL

Well, Nestle must want us for something, they already have 235,000 employees, are the largest food supplier in the world, and are paying $3.7 Billion for us.

Better a company based in Switzerland than China.
Maybe I can visit the corporate headquarters.

 

[Bob_VT]

Re: I've been sold ........ again

Well as long as the take-over does not mess with your benefits you should be okay.

N E S T L E S nestles makes the very best..... chocolate! Wow..... one of the old fashioned saying's we all grew up with.

 

[angus63]

Re: I've been sold ........ again

Hope it works out well for you. I worked as a Project Engineer for two smaller aerospace companies that were gobbled up by large corporations. Both incidents were a double-edged sword for me. I enjoyed better benefits and resources being part of a larger population, but the emphasis went from pride in a quality product to hitting monthly and quarterly sales numbers. Stress levels chased me away to pursue other venues.

Now I'm on the other end of the spectrum. I left private corporate manufacturing and entered teaching for the federal government. Much more rewarding and stress is minimal.

Good luck!

 

[roscoe]

Re: I've been sold ........ again

Well, the benefits should be as good or better than current, although structured a little differently.
Pension is looked in but frozen. 401 is portable.

""Some of Nestle's business practices have led me to make a personal choice not to use their products. Specifically their bottled water division""

Well, there are many Kraft products that I won't buy, mostly because of the way Kraft has cheapened them up over the last 20 years.
Does anyone remember when Miracle Whip had flavor?
Or when soybean oil was not in every product?

I am in production, actually producing. Running an assembly line. But not in managerial position.

I'm more worried that Nestle will let things as they are, as opposed to coming in and shaking things up.

 

[Huron Angler]

Re: I've been sold ........ again

Roscoe good luck with the buyout, hopefully a good move for the company, not sure the pizza unit should be the first thing sold, sounds like a profitable group. GM did the same when they needed $$, sold 1/2 of GMAC when it was profitable. Nobody wants to buy Saab meanwhile.

entered teaching for the federal government

Sounds good angus, can ya teach them how to be fiscally responsible and budget a little better while yer at it? No-bid contracts not allowed, tell them

 

[angus63]

Re: I've been sold ........ again

Roscoe good luck with the buyout, hopefully a good move for the company, not sure the pizza unit should be the first thing sold, sounds like a profitable group. GM did the same when they needed $$, sold 1/2 of GMAC when it was profitable. Nobody wants to buy Saab meanwhile.



Sounds good angus, can ya teach them how to be fiscally responsible and budget a little better while yer at it? No-bid contracts not allowed, tell them

You can lead them to the rules but you can't make them drink! All you taxpayers can rest assured I spend my dept's budget and stimulus funds wisely with the mission in mind. Gotta go, my new hot tub's reached temperature!!

 

[roscoe]

Re: I've been sold ........ again

Roscoe good luck with the buyout, hopefully a good move for the company, not sure the pizza unit should be the first thing sold, sounds like a profitable group.

Yeah, the fastest growing and most profitable.

 

[lowkee]

Re: I've been sold ........ again

The good news is you now have some company shirts which just became boat polishing rags

 

[javsam]

Re: I've been sold ........ again

Well good luck Roscoe,I for one am glad to have parted company 3 years ago, and I now work for a better company making more money and I also have better benefits.

Hopefully Nestle will shake things up, and get rid of the dead weight.

And I also avoid Kraft products,remember when the Ritz Cracker was the best.I bought a package after Kraft became owner and the crackers just crumbled in their package and tasted poorly.

Javsam

 

[roscoe]

Re: I've been sold ........ again

Hey there Sam, hope all is well with you.

Kraft has done the "cheapen" thing with every Nabisco product, Oreos, Honey Maid Grahams, etc. Sad.

 

[Bart Sr.]

Re: I've been sold ........ again

Hey there Sam, hope all is well with you.

Kraft has done the "cheapen" thing with every Nabisco product, Oreos, Honey Maid Grahams, etc. Sad.

The last "Double Stuf" oreos we bought looked like regular oreos.

I was PO'd big time.

 

[avenger79]

Re: I've been sold ........ again

been through the "sold" thing a few times over the years myself. it usually doesn't turn out too bad for most employees.

they should grandfather your bennie package. there will always be a few grumblers through it but all in all, you still work in the same building with the same people.

 

[roscoe]

Re: I've been sold ........ again

you still work in the same building with the same people.

Thats the problem.

 

[PeterMcG]

Re: I've been sold ........ again

...and Nestle gets a company that has enjoyed double digit growth for 16 straight quarters, and makes 40% of frozen pizzas sold in the USA and Canada.

I'm more worried that Nestle will let things as they are, as opposed to coming in and shaking things up.

If things are going so well, why would they seek to "shake things up"?

 

[HappierWet]

Re: I've been sold ........ again

To assert " There's a new sheriff in town " or "Our managerial style will be more profitable"
I have seen several different parent companies buy someone out, come in and (with no idea of how things work) slash budgets, get rid of key people and generally run the company into the basement. Only because I'm bitter and cynical, I think things were better with the robber barons who would buy a company and sell off the pieces. At least there the end came quickly.

Roscoe, I hope it works out for you. I did not mean to depress you

 

[PeterMcG]

Re: I've been sold ........ again

@HappierWet, the question was more directed to Roscoe's fears that they would NOT shake things up.

I agree that many times, a perfectly functioning subsidiary is mucked with despite operating very well. The question was more directed toward Roscoe because he expressed misgivings that the Nestle would not change things. (Roscoe said he was "worried that Nestle will let things as they are").

Since he had posted such a rosy picture of his division's performance, I was curious what changes he wanted the new ownership group to introduce.