|Headquarters||Chicago, Illinois and Pittsburgh, Pennsylvania, US|
|Alex Behring (Chairman)|
John Cahill (Vice chairman)
Bernardo Hees (CEO)
|Revenue||US$26.232 billion (2017)|
|US$6.773 billion (2017)|
|US$10.999 billion (2017)|
|Total assets||US$120.232 billion (2017)|
|Total equity||US$66.034 billion (2017)|
Number of employees
The Kraft Heinz Company is an American food company formed by the merger of Kraft Foods and Heinz based in Chicago, Illinois and Pittsburgh, Pennsylvania. Kraft Heinz is the third-largest food and beverage company in North America and the fifth-largest in the world with $26.2 billion in annual sales as of 2017. It is responsible for over 25 brands including Kraft, Heinz, Planters, Grey Poupon, Oscar Mayer and more, of which eight have total individual sales of over $1 billion.
In 2018, Kraft Heinz launched Springboard Brands, a business focused on growing organic, natural, and "super-premium" food brands. Kraft Heinz ranked No. 114 in the 2018 Fortune 500 list of the largest United States corporations by total revenue.
The merger of Kraft Foods and H.J. Heinz was agreed by the boards of both companies, with approval by shareholders and regulatory authorities in early 2015. The new Kraft Heinz Company became the world's fifth-largest food and beverage company and the third-largest in the United States. The company is headquartered in Chicago at the Aon Center with additional offices in Pittsburgh at PPG Place. The companies completed the merger on July 2, 2015.
Alex Behring, 3G Capital's managing partner, is the chairman of the new company; Bernardo Hees, also a partner of 3G Capital and Heinz's chief executive officer (CEO), is the CEO of the new company; and John Cahill, Kraft's CEO, is the vice chairman of the new company.
On February 17, 2017, it was reported that Kraft Heinz Co. had made a $143 billion approach to take over the British-Dutch multinational Unilever, a significantly larger competitor with 126,000 more employees and £24bn larger revenue than Kraft Heinz. Unilever declined the initial proposal. The takeover was subsequently abandoned on 19 February soon after UK Prime Minister Theresa May had ordered a scrutiny of the deal.
For the fiscal year 2017, Kraft Heinz reported earnings of US$11.0 billion, with an annual revenue of US$26.2 billion, a decline of 0.6% over the previous fiscal cycle. Kraft Heinz's shares traded at over $61 per share, and its market capitalization was valued at over US$136 billion in September 2018.
In February 2019, shares in Kraft Heinz fell to a record low of under $35, after the company reported a $10.2bn loss for the previous year.
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|Price per Share
On February 21, 2019, Kraft Heinz reported that they received a Securities and Exchange Commission (SEC) subponea in October that aimed to look into the company's accounting policies and internal controls. Kraft Heinz also announced that they slashed their dividend from 62.5 cents a share to 40 cents. The company also announced a goodwill impairment charge that wrote down the value of the company's Kraft and Oscar Mayer brands of $15.4 billion in the fourth quarter, which resulted in a net loss of $12.61 billion. The all-resulting news made the company's stock crash more than 20% in after-hours trading. The stock plunge resulted in Berkshire Hathaway, the largest stockowner, a write down of $3 billion and a stock value loss of $4.3 billion just a day before Berkshire Hathaway's quarterly earnings and annual report to investors.
- List of food companies
- List of brand name food products
- List of dairy product companies in the United States
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- Business, Jackie Wattles, CNN. "Kraft Heinz posts huge loss, slashes dividend and reveals SEC investigation". CNN. Retrieved 2019-02-23.
- Imbert, Fred (2019-02-23). "berkshire hathaway fourth quarter 2018 earnings". www.cnbc.com. Retrieved 2019-02-23.
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