The French company, DANONE (turnover of €14bn in 2006, with a workforce of 88,000 employees) has sold off its biscuit business wing (“Lu” brand) to the US company, KRAFT FOODS (turnover of €25.7bn in 2006, with a workforce of 90,000) for €5.3bn. Danone biscuits' annual turnover is €2bn and it has a workforce of 15,000.