The Kraft Heinz Company announces completion of merger
Posted: 3 July 2015 | Victoria White | No comments yet
The merger between Kraft and Heinz has been completed, creating the fifth-largest food and beverage company in the world – The Kraft Heinz Company…
Heinz has completed its purchase of Kraft Foods Group.
This historic transaction creates The Kraft Heinz Company and makes the third-largest food and beverage company in North America and the fifth-largest food and beverage company in the world with an unparalleled portfolio of iconic brands.
The Kraft Heinz Company’s Board of Directors is comprised of the following 11 directors: Alex Behring (who will serve as Chairman of the Board), Gregory Abel, Tracy Britt Cool, Warren Buffett, John T. Cahill (who will serve as Vice Chairman of the Board), L. Kevin Cox, Jeanne P. Jackson, Jorge Paulo Lemann, Mackey J. McDonald, John C. Pope, and Marcel Telles.
Bernardo Hees is Chief Executive Officer of The Kraft Heinz Company.
“I am honoured and humbled to be the CEO of The Kraft Heinz Company,” said Mr. Hees. “Kraft and Heinz are both world-class organizations with storied pasts and together, an even brighter future.”
The Kraft Heinz Company common shares will begin trading on the NASDAQ on 6 July
Effective as of the close of trading today, July 2, 2015, Kraft Foods Group, Inc. common shares will cease trading on the NASDAQ. The Kraft Heinz Company common shares will begin trading on the NASDAQ under the trading symbol KHC on 6 July 2015.
The Company has stated that its immediate focus is on integrating the two businesses and establishing a new organisational structure, while delivering its financial objectives for 2015. The Heinz brand and business will remain headquartered in Pittsburgh and the Kraft brand and business will remain headquartered in the Chicago area.