The Kraft Heinz Co has annual sales of US$29bn

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.