Kraft Heinz
![]() | |
Company type | Public |
---|---|
Industry | Food processing |
Predecessors | Heinz Kraft Foods |
Founded | July 2, 2015[1] |
Headquarters | Pittsburgh, Pennsylvania, US |
Area served | Worldwide |
Key people | Alex Behring (Chairman) John Cahill (Vice chairman) Bernardo Hees (CEO) |
Products | Kraft Macaroni and Cheese |
Revenue | 26,485,000,000 United States dollar (2022) ![]() |
3,634,000,000 United States dollar (2022) ![]() | |
2,363,000,000 United States dollar (2022) ![]() | |
Total assets | 93,394,000,000 United States dollar (2021) ![]() |
Owner | Berkshire Hathaway (26.8%) 3G Capital (24.2%) (remaining 49.0% Publicly-owned)[2] |
Number of employees | 36,000 (2021) ![]() |
Divisions | Kraft Heinz |
Website | www |
The Kraft Heinz Company is an American worldwide food company formed by the merger of Kraft Foods and Heinz.[3] The merger was backed by 3G Capital and Berkshire Hathaway, which invested US$10 billion in the deal, making Kraft Heinz worth about US$46 billion.[4][5] In 2015 the Kraft Heinz Company had 13 different brands with $500 million or more each in annual sales.[6]
Merger
The merger was agreed by the boards of both companies, with approval by shareholders and regulatory authorities.[3][6] The new company became the world's fifth-largest food and beverage company[7] and the third-largest in the US.[3] The company is headquartered in Pittsburgh, the headquarters of Heinz.[8] The companies completed the merger on July 2, 2015.[1]
Under the merger, Kraft's shareholders received 49% of shares in the combined company, plus a one-time dividend of US$16.50 per share.[9] Fortune reports that sluggish growth for Kraft in the US market is due to consumers turning to natural and organic ingredients.[10]
Alex Behring, 3G Capital's managing partner, is the chairman of the new company; Bernardo Hees, 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.[10]
The merger did not affect the naming rights to Heinz Field, home of the Pittsburgh Steelers.[8]
See also
- List of food companies
- List of brand name food products
- List of dairy product companies in the United States
References
- ^ a b "The Kraft Heinz Company Announces Successful Completion of the Merger between Kraft Foods Group and H.J. Heinz Holding Corporation" (PDF). The Kraft Heinz Company. 2 July 2015. Archived from the original (PDF) on 14 July 2015. Retrieved 23 January 2015.
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(help) - ^ "Kraft Heinz Company Proxy Statement, March 3, 2016". The Kraft Heinz Company. 3 March 2016. Retrieved 14 November 2016.
- ^ a b c "Kraft Foods to merge with Heinz". BBC News. 25 March 2015. Retrieved 9 October 2016.
- ^ "Kraft Foods to merge with ketchup maker Heinz". Reuters. 25 March 2015. Retrieved 25 March 2015.
- ^ "3G Capital, Berkshire to Buy Kraft Foods, Merge It With Heinz". Bloomberg. 25 March 2015. Retrieved 25 March 2015.
- ^ a b "H.J. Heinz, Kraft Foods to merge". Institute of Food Technologists. 25 March 2015. Retrieved 28 March 2015.
- ^ Nolan Feeney (25 March 2015). "Kraft and Heinz Merge to Become World's 5th-Largest Food Company". TIME magazine. Retrieved 9 October 2016.
- ^ a b Teresa F. Lindeman (25 March 2015). "Officials: Heinz Field name will not change with merger deal". Pittsburgh Post-Gazette. Retrieved 9 October 2016.
- ^ Giammona, Craig. "Kraft Foods, Heinz to merge in deal backed by Warren Buffett, Tim Hortons owner". Financial Post. Postmedia Network. Retrieved 27 March 2015.
- ^ a b "1. Meet the new Kraft Heinz Company". Fortune. 25 March 2015. Retrieved 9 October 2016.
Further reading
- Kim, Susanna (25 March 2015). "How the New Kraft Heinz Co. Is About to Take Over Your Kitchen". ABC News. Retrieved 26 March 2015.
External links
- Official website
- Business data for Kraft Heinz:
- Companies in the Nasdaq-100
- Companies listed on the Nasdaq
- Kraft Foods
- H. J. Heinz Company
- Companies listed on NASDAQ
- Dairy products companies of the United States
- Food and drink companies of the United States
- Manufacturing companies established in 2015
- Northfield, Illinois
- Multinational food companies
- Multinational dairy companies
- American companies established in 2015
- Brand name condiments
- American brands
- 2015 establishments in the United States