Kraft-Heinz Merger Forms Worlds Fifth-Largest Food-Beverage Company

PITTSBURGH -- Kraft Foods and the H.J. Heinz Co. closed their mega merger on July 2, forming the world's fifth-largest food and beverage company, and North America's third-largest. They announced the deal in March. | READ MORE

The new company, which is called Kraft Heinz Co., will have an estimated $28 billion in annual revenue from brands like Oscar Mayer, Philadelphia, Velveeta, Maxwell House, Ore-Ida and Jell-O, as well as from Kraft's cheese and Heinz's ketchup products.

Warren Buffet's Berkshire Hathaway Inc. and Brazilian investment firm 3G Capital, which together bought Heinz in 2013, own 51% of Kraft Heinz and control six of its 11 board seats, including one for Buffett. Former Kraft shareholders own the remaining 49% of the combined firm.

Heinz chief executive Bernardo Hees has assumed the same role in the new company. Kraft Heinz Co. will maintain two main offices, one in Heinz's hometown of Pittsburgh and the other at Kraft's Chicago-area headquarters. It is online at kraftheinzcompany.com and trades on the Nasdaq under the symbol KHC.