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James L. Kraft started a wholesale cheese distribution business in Chicago in 1903, incorporating in 1909 as the J.L. Kraft Bros. & Company. In 1914, Kraft opened its first cheese factory, and in 1924 the company changed its name to Kraft Cheese Company and went public. In 1930, Kraft was acquired by the National Dairy Products Corporation but continued to operate independently. It became the Kraft Cheese Company in 1945 and the Kraft Foods Company in 1948. In 1957, the company became the Kraft Foods Division of the National Dairy Products Corporation and at the 1969 renaming of the parent organization it became the Kraft Foods Division of the Kraftco Corporation. In 1976, when the Kraftco Corporation was renamed Kraft, Inc., the division ceased to exist and its functions were divided among other divisions. In 1989, Philip Morris combined General Foods and Kraft under a new holding company called Kraft General Foods, though each unit continued to operate separately. Major restructuring in 1995 melded Kraft and and General Foods into Kraft Foods, Inc.