The Kraft Group: Keeping It Private
There many family-owned and run companies all over the world. For various reasons they don’t grow to be very large companies. There are those though that grow to be multibillion dollar corporations. It shows the business talents of the family owners. It also shows that family owners are able to hire the right individuals to help them run their huge enterprise.
One of these firms is The Kraft Group. It was founded by businessman Robert Kraft, a graduate of Harvard Business School in 1965. The company has headquarters in Foxborough, Massachusetts. It is a privately held holding company. The firm mainly does business in five areas: paper/packaging manufacturing and forest products distribution; sports & entertainment; real estate development; private equity investment; and philanthropy.
While Kraft Sports Group may not be known to many some of the properties it owns are certainly well-known. One of them is the New England Patriots, LP. This Super Bowl winning team was founded in 1960 and acquired by Kraft in 1994. Gillette Stadium is a $325 million facility privately financed by Kraft and was opened in 2002. Around Gillette Stadium is Patriot Place a $350 million lifestyle and entertainment center. It was opened in 2007-2008. There is also TeamOps, LLC founded in 2006 which has under it TeamOps (Event Staff) and TeamOps Detect.
It owns a company with an old history, Rand-Whitney Group which was founded in 1857 and bought by Kraft in 1972. There is also something “family” about this business since the previous owner, Jacob Hiatt is the father of Robert Kraft’s wife Myra Kraft. Under this group there is Rand-Whitney Container, LLP; Rand-Whitney Containerboard, LLP and Rand-Whitney Waste, LLP.
International Forest Products, LLC is a company founded by Kraft in 1972. This firm is operated by Daniel Kraft son of Robert Kraft. The Kraft Group also has more than 30 private equity investments.
Kraft does business in over 80 countries having tens of thousands of customers. It has over 5,000 employees. The Kraft Group believes it success has a lot to do with treating their customers in a personalized manner.