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. 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.[unreliable source?] With over 25 brands including Kraft, Heinz, Planters, Grey Poupon, Oscar Meyer and more, 8 have total sales of over $1 billion each.
|Founded||July 2, 2015|
|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 merger was agreed by the boards of both companies, with approval by shareholders (at the shareholders meeting) and regulatory authorities. The new company became the world's fifth-largest food and beverage company and the third-largest in the United States. The company is headquartered in both Pittsburgh and Chicago. The companies completed the merger on July 2, 2015.
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. Fortune reported that sluggish growth for Kraft in the US market is due to consumers turning to natural and organic ingredients.
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.
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- "The Kraft Heinz Company 2017 Annual Report (Form 10-K)". sec.gov. U.S. Securities and Exchange Commission. February 2018.
- "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. 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.
- "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.
- Kim, Susanna (March 25, 2015). "How the New Kraft Heinz Co. Is About to Take Over Your Kitchen". ABC News. Retrieved 26 March 2015.