Kraft Foods, Heinz seal merger
The Kraft Heinz Co has annual sales of US$29bn
Kraft Foods and Heinz have completed their merger to create The Kraft Heinz Co, the fifth-largest food and beverage company in the world.
The move, which was first announced in March, sees Heinz private equity owners Berkshire Hathaway and 3G Capital hold 51% of the new company. The entity will generate annual sales of around US$29bn and will own eight $1bn brands and five brands whose sales total between $500m and $1bn.
The new company controls the production and distribution rights to Capri Sun in the US. It also owns the powder and concentrate mix Kool-Aid and liquid water enhancer MiO.
The company said its immediate focus was on integrating the two businesses and establishing a new organisational structure.
3G has recently been rumoured to be assessing a takeover of Johnnie Walker and Smirnoff owner Diageo. However analysts said an acquisition was unlikely partly because 3G was in the process of merging Heinz and Kraft.
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