Kraft Foods (NYSE:KFT) has put up for sale a Cadbury factory for £50 million.

Kraft Foods (NYSE:KFT) Selling Chocolate Factory

American food giant Kraft Foods (NYSE:KFT) is going to sell a Cadbury factory which the company had previously promised not to close. Kraft Foods (NYSE:KFT), which is now planning to build 600 homes on the site, acquired Cadbury in 2009 for £11.7 billion.

Kraft Foods (NYSE:KFT)’s CEO, Irene Rosenfeld had refused to appear before a committee of MPs at Westminster to explain her actions during the takeover.

Andrew Taylor, a director at BNP Paribas Real Estate, which is selling the land on behalf of Kraft said, “We have been working with Cadbury and Kraft Foods (NYSE:KFT) for a number of years to identify development opportunities for the site.”The site represents a unique opportunity for a mixed-use scheme that which could contribute massively to the local demand for housing and generate significant job opportunities.”

Kraft Foods Inc. (NYSE:KFT) shares are currently standing at 30.97.

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