Heinz-Kraft merger forms new food giant
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Heinz is to buy 51% of Kraft in a deal brokered by Warren Buffett and the Brazilian-based private equity company 3G. The new Kraft Heinz Company will have combined revenues of $28 billion

Warren Buffett: Berkshire Hathaway Chairman and CEO

Alex Behring: New chairman of Kraft Heinz, existing Heinz chairman and partner at 3G

Heinz: Acquired by 3G-Buffett partnership for $23.2 billion in 2013

Kraft Heinz Company: Will be third-largest food and beverage company in North America and fifth-largest worldwide

Deal: Kraft shareholders to get $10 billion special dividend – $16.50 per share

Savings: $1.5 billion in annual cost savings by 2017

Brands: Portfolio incudes Heinz’s signature tomato ketchup and Kraft’s Philadelphia Cream Cheese and Planters snacks

Vice-chairman will be John Cahill, current Kraft chairman. CEO will be Bernardo Jees, Heinz’s current CEO
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Sources: Financial Times, Fortune 

Pictures: Associated Press

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