Kraft Foods set to merge with Heinz
US food consortium Heinz is set to merge with Kraft Foods Group, creating what both companies describe as one of the largest food and beverage company’s in the US, encompassing high profile brands such as Kraft, Heinz and Oscar Mayer.
Alex Behring, Chairman of Heinz and Managing Partner of 3G Capital said, “By bringing together these two iconic companies through this transaction, we are creating a strong platform for both US and International growth.”
John Cahill, the CEO and Chairman of Kraft added, “We look forward to uniting with Heinz in what will be an exciting new chapter ahead.”
The new brand will be called the ‘Kraft Heinz Company’ and will be co-headquartered in Pittsburgh and the Chicago area.
The announcement of this deal, along with heightened activity in the wider market, is a promising sign for companies seeking a strategic partner to achieve shared goals, such as increasing market share, as well as promising news for the M&A sector as a whole.