A Kraft Foods division on Tuesday bought an undisclosed stake in a Chicago-based start-up that aims to improve food service companies' ability to place and receive electronic orders.
Kraft's food service unit took a position in privately held EFS Network, which was launched in December by agribusiness company Cargill, fast-food chain McDonald's, poultry and meat giant Tyson Foods and food distributor Sysco Corp.
To date, EFS said it has raised €14.2million, and a total of 18 companies have now invested in the company. EFS' technology allows companies with different ordering systems to link up and communicate, improving trade relationships and reducing costs, an EFS spokeswoman said.