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Kraft Heinz

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The Kraft Heinz Company
Company typePublic
IndustryFood processing
PredecessorsHeinz
Kraft Foods
FoundedJuly 2, 2015; 9 years ago (2015-07-02)[1]
HeadquartersPittsburgh, Pennsylvania, US
Area served
Worldwide
Key people
Alex Behring (Chairman)
John Cahill (Vice chairman)
Bernardo Hees (CEO)
ProductsKraft Macaroni and Cheese
Revenue26,485,000,000 United States dollar (2022) Edit this on Wikidata
3,634,000,000 United States dollar (2022) Edit this on Wikidata
2,363,000,000 United States dollar (2022) Edit this on Wikidata
Total assets93,394,000,000 United States dollar (2021) Edit this on Wikidata
OwnerBerkshire Hathaway (26.8%)
3G Capital (24.2%)
(remaining 49.0% Publicly-owned)[2]
Number of employees
36,000 (2021) Edit this on Wikidata
DivisionsKraft
Heinz
Websitewww.kraftheinzcompany.com

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

References

  1. ^ 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. {{cite web}}: Cite has empty unknown parameter: |month= (help)
  2. ^ "Kraft Heinz Company Proxy Statement, March 3, 2016". The Kraft Heinz Company. 3 March 2016. Retrieved 14 November 2016.
  3. ^ a b c "Kraft Foods to merge with Heinz". BBC News. 25 March 2015. Retrieved 9 October 2016.
  4. ^ "Kraft Foods to merge with ketchup maker Heinz". Reuters. 25 March 2015. Retrieved 25 March 2015.
  5. ^ "3G Capital, Berkshire to Buy Kraft Foods, Merge It With Heinz". Bloomberg. 25 March 2015. Retrieved 25 March 2015.
  6. ^ a b "H.J. Heinz, Kraft Foods to merge". Institute of Food Technologists. 25 March 2015. Retrieved 28 March 2015.
  7. ^ Nolan Feeney (25 March 2015). "Kraft and Heinz Merge to Become World's 5th-Largest Food Company". TIME magazine. Retrieved 9 October 2016.
  8. ^ 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.
  9. ^ Giammona, Craig. "Kraft Foods, Heinz to merge in deal backed by Warren Buffett, Tim Hortons owner". Financial Post. Postmedia Network. Retrieved 27 March 2015.
  10. ^ a b "1. Meet the new Kraft Heinz Company". Fortune. 25 March 2015. Retrieved 9 October 2016.

Further reading

  • Official website
  • Business data for Kraft Heinz:
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