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Kraft discontinues Athenos Greek yogurt

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04/12/2012 | 10:31pm CEST

(Reuters) - Kraft Foods Inc (>> Kraft Foods Inc) is discontinuing its Athenos line of Greek yogurt, the company said on Thursday, exiting the fast-growing U.S. Greek yogurt market.

(Reuters) - Kraft Foods Inc (>> Kraft Foods Inc) is discontinuing its Athenos line of Greek yogurt, the company said on Thursday, exiting the fast-growing U.S. Greek yogurt market.

Athenos, which also makes feta cheese, hummus and pita chips, discontinued the yogurt in March.

"Although we had a loyal following of Athenos Greek yogurt fans, we have decided to refocus our efforts on innovating new products for the Athenos brand," a Kraft spokesman said in a statement. "We know that this is very disappointing to consumers, and it was an extremely difficult decision for us to make."

Sales of Greek yogurt, which is thicker and has more protein than other yogurt, have soared in the United States in the last few years. The market is dominated by privately held Agro Farma, whose Chobani brand has about a 60 percent share.

Danone (>> DANONE) is second with 17 percent, followed by Greece-based Fage, and Yoplait owner General Mills (>> General Mills, Inc.).

Kraft Foods is preparing to split into two companies -- one focused on snack brands like Cadbury, Oreo and Ritz and one focused on grocery brands like Oscar Mayer, Maxwell House and Planters.

(Reporting By Martinne Geller in New York;editing by Sofina Mirza-Reid)

Stocks treated in this article : DANONE, General Mills, Inc., Kraft Foods Inc
Stocks mentioned in the article
ChangeLast1st jan.
DANONE 1.19% 67.19 Real-time Quote.-5.08%
GENERAL MILLS 1.04% 42.64 Delayed Quote.-28.67%
KRAFT FOODS INC --End-of-day quote.
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Financials (€)
Sales 2018 24 967 M
EBIT 2018 3 761 M
Net income 2018 2 367 M
Debt 2018 13 648 M
Yield 2018 2,95%
P/E ratio 2018 18,13
P/E ratio 2019 16,76
EV / Sales 2018 2,35x
EV / Sales 2019 2,21x
Capitalization 45 065 M
Chart DANONE
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Danone Technical Analysis Chart | BN | FR0000120644 | 4-Traders
Technical analysis trends DANONE
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 31
Average target price 75,8 €
Spread / Average Target 13%
EPS Revisions
Managers
NameTitle
Emmanuel Faber Chairman & Chief Executive Officer
Cécile Cabanis CFO, Executive VP-Strategy & Information Systems
Benoît Potier Independent Director
Isabelle Seillier Non-Independent Director
Jean-Michel Sévérino Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
DANONE-5.08%52 501
NESTLÉ-9.07%239 352
THE KRAFT HEINZ COMPANY-26.62%70 432
MONDELEZ INTERNATIONAL-7.52%58 383
ASSOCIATED BRITISH FOODS-2.48%28 929
GENERAL MILLS-28.67%25 281