The KRAFT brand was allocated to the grocery business, and consequently Kraft Foods Inc (parent entity of the snack foods business) changed its name to Mondelez International Inc. The registered owner of the KRAFT mark became Kraft Foods Group LLC, an IP holding company owned by Kraft Foods Group Inc. In Australia, a subsidiary of Kraft Foods Inc (Kraft Foods Limited, or KFL ) had since 1962 manufactured peanut butter at a plant in Port Melbourne, which it sold under the KRAFT brand. KRAFT peanut butter was for many years the clear market leader, with around 65% of sales in a total market worth $110 million annually (as at 2017). Pursuant to the restructure, KFL (including the Port Melbourne plant) was allocated to the snack foods business, and KFL became a subsidiary of Mondelez.