Kraft Heinz
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Public | |
Traded as | |
Industry | Food processing |
Founded | July 2, 2015[1] |
Headquarters | Chicago, Illinois and Pittsburgh, Pennsylvania, US |
Area served | Worldwide |
Key people |
Alex Behring (Chairman) John Cahill (Vice chairman) Bernardo Hees (CEO) |
Products |
Beverages Cheese Convenience foods Dairy foods Snack foods |
Revenue |
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Total assets |
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Total equity |
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Number of employees | ~39,000 (2017)[2] |
Divisions |
Kraft Foods Heinz |
Website |
www |
The Kraft Heinz Company (Kraft Heinz) is an American food company formed by the merger of Kraft Foods and Heinz based in Chicago, Illinois and Pittsburgh, Pennsylvania.[3] Kraft Heinz is the third-largest food and beverage company in North America and the fifth-largest in the world with $26.1 billion in annual sales.[4] With over 25 brands including Kraft, Heinz, Planters, Grey Poupon, Oscar Meyer and more, 8 have total sales of over $1 billion each.
In 2018, Kraft Heinz launched Springboard Brands, a platform focused on growing organic, natural, and "super-premium" food brands.[5][6]
Merger
The merger was agreed by the boards of both companies, with approval by shareholders (at the shareholders meeting) and regulatory authorities.[3][7] The new company became the world's fifth-largest food and beverage company[8] and the third-largest in the United States.[3] The company is headquartered in both Pittsburgh and Chicago.[9] 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.[10] Fortune reported that sluggish growth for Kraft in the US market is due to consumers turning to natural and organic ingredients.[11]
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.[11]
The merger did not affect the naming rights to Heinz Field, home of the Pittsburgh Steelers.[12]
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.[13] Unilever declined the initial proposal.[14] The takeover was subsequently abandoned on 19 February soon after UK Prime Minister Theresa May had ordered a scrutiny of the deal.[13]
See also
References
- 1 2 "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.
- 1 2 3 4 5 6 "The Kraft Heinz Company 2017 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. February 2018.
- 1 2 3 "Kraft Foods to merge with Heinz". BBC News. 25 March 2015. Retrieved 9 October 2016.
- ↑ "The Kraft Heinz Company". www.kraftheinzcompany.com. Retrieved 15 September 2018.
- ↑ "Kraft Heinz is going after small organic food brands just as Whole Foods abandons them". Business Insider. Retrieved 18 September 2018.
- ↑ "Springboard - Shaping the Future of the Food and Beverage Industry". Springboard. Retrieved 18 September 2018.
- ↑ "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.
- ↑ KraftHeinzCompany_FactSheet.pdf: www.kraftheinzcompany.com/KraftHeinzCompany_FactSheet.pdf, accessdate: February 17, 2017
- ↑ Giammona, Craig. "Kraft Foods, Heinz to merge in deal backed by Warren Buffett, Tim Hortons owner". Financial Post. Postmedia Network. Retrieved 27 March 2015.
- 1 2 "1. Meet the new Kraft Heinz Company". Fortune. 25 March 2015. Retrieved 9 October 2016.
- ↑ Teresa F. Lindeman (25 March 2015). "Officials: Heinz Field name will not change with merger deal". Pittsburgh Post-Gazette. Retrieved 9 October 2016.
- 1 2 "Kraft Heinz abandons £115bn Unilever mega-deal". The Telegraph. Retrieved 2017-02-19.
- ↑ Anne Steele Chaudhuri saabira (17 February 2017). "Kraft Makes $143 Billion Merger Bid for Unilever". The Wall Street Journal. Retrieved 17 February 2017.
Further reading
- Kim, Susanna (March 25, 2015). "How the New Kraft Heinz Co. Is About to Take Over Your Kitchen". ABC News. Retrieved 26 March 2015.
External links
- Business data for Kraft Heinz: Google Finance
- Yahoo! Finance
- Reuters
- SEC filings