The Mexican soft drinks company, Jugos del Valle, has confirmed that it is in talks with the US food group, Kraft Foods, regarding a possible takeover of Mexico's second largest fruit juice concern. Jugos del Valle said in a statement that it "is holding talks with Kraft, as is consistent with the interest shown by Jugos del Valle in analysing different business options including the possible sale of the company." Kraft, part of the Philip Morris corporation, has also confirmed that it has had "conversations" with the company.