Type Public Area served Worldwide Founded 2 July 2015 | Industry Food processing CEO Bernard Hees (2015–) Predecessors Heinz, Kraft Foods | |
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Traded as NASDAQ: KHC
NASDAQ-100 Component
S&P 100 Component
S&P 500 Component Key people Alex Behring (Chairman)
John Cahill (Vice chairman)
Bernardo Hees (CEO) Products Beverages
Cheese
Convenience foods
Dairy foods
Snack foods Stock price KHC (NASDAQ) US$ 91.98 -0.79 (-0.85%)17 Mar, 4:00 PM GMT-4 - Disclaimer Headquarters Chicago, Illinois, United States Subsidiaries Heinz, Ore-Ida, Lea & Perrins, Golden Circle Profiles | ||
Battle of the brands unilever vs kraft heinz
The Kraft Heinz Company is an American worldwide food company formed by the merger of Kraft Foods Group and Heinz in 2015. 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. In 2015 the Kraft Heinz Company had 13 different brands with $500 million or more each in annual sales.
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Merger
The merger was agreed by the boards of both companies, with approval by shareholders and regulatory authorities. The new company became the world's fifth-largest food and beverage company and the third-largest in the US. 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 reports 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.
The merger did not affect the naming rights to Heinz Field, home of the Pittsburgh Steelers.
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 take over was subsequently abandoned on 19 February soon after UK Prime Minister Theresa May had ordered a scrutiny of the deal.