Combination Creates Unparalleled Portfolio of
Powerful and Iconic Brands
The Kraft Heinz Company (NASDAQ: KHC) is pleased to announce the
successful completion of the merger between Kraft and Heinz.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20150702005852/en/
The transaction creates 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 complementary nature of the two brand portfolios
presents substantial opportunity for synergies, which will result
in increased investments in marketing and innovation. This historic
transaction unites two powerful businesses and iconic brands, and
provides a platform for leadership in the food industry both
domestically and internationally.
Management and Governance
As previously announced, 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.
Also as previously announced, Bernardo Hees is Chief Executive
Officer of The Kraft Heinz Company. The rest of the Kraft Heinz
Company senior leadership team was announced on June 29, 2015.
“I am honored 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.”
KHC
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 Monday, July 6, 2015.
Dividend
On July 31, 2015, The Kraft Heinz Company will pay a cash
dividend of $0.55 per share to all stockholders of record at the
close of business on July 27, 2015. This dividend will be in
lieu of the dividend declared on June 22, 2015, by Kraft to its
shareholders of record as of July 27, 2015, the payment of
which was conditional on the merger not having closed by that
date.
Next Steps
The Company’s immediate focus is on integrating the two
businesses and establishing a new organizational structure, while
delivering its financial objectives for 2015.
The Kraft Heinz Company remains committed to its hometowns with
co-headquarters in Pittsburgh and the Chicago area. The Heinz brand
and business will remain headquartered in Pittsburgh and the Kraft
brand and business will remain headquartered in the Chicago
area.
ABOUT HEINZ
H.J. Heinz Company, offering “Good Food Every Day,”™ is one of
the world’s leading marketers and producers of healthy, convenient
and affordable foods specializing in ketchup, sauces, meals, soups,
snacks and infant nutrition. Heinz provides superior quality, taste
and nutrition for all eating occasions whether in the home,
restaurants, the office or “on-the-go.” Heinz is a global family of
leading branded products, including Heinz® Ketchup, sauces, soups,
beans, pasta and infant foods (representing over one third of
Heinz’s total sales), Ore-Ida® potato products, Weight Watchers®
Smart Ones® entrées, T.G.I. Friday’s® snacks, and Plasmon infant
nutrition. Heinz is famous for its iconic brands on six continents,
showcased by Heinz® Ketchup, The World’s Favorite Ketchup®.
ABOUT KRAFT FOODS GROUP
Kraft Foods Group, Inc. (NASDAQ: KRFT) is one of North
America's largest consumer packaged food and beverage
companies, with annual revenues of more than $18
billion. The company's iconic brands include Kraft, Capri
Sun, Jell-O, Kool-Aid, Lunchables, Maxwell
House, Oscar Mayer, Philadelphia, Planters and Velveeta.
Kraft’s 22,000 employees in the U.S. and Canada have a
passion for making the foods and beverages people love. Kraft
is a member of the Standard & Poor's 500 and the
NASDAQ-100 indices. For more information about Kraft,
visit www.kraftfoodsgroup.com and www.facebook.com/kraft.
Forward-Looking
Statements
Except for the historical information contained herein, certain
of the matters discussed in this communication constitute
“forward-looking statements” within the meaning of the Securities
Act of 1933 and the Securities Exchange Act of 1934, both as
amended by the Private Securities Litigation Reform Act of 1995.
Words such as “may,” “might,” “will,” “should,” “could,”
“anticipate,” “estimate,” “expect,” “predict,” “project,” “future”,
“potential,” “intend,” “seek to,” “plan,” “assume,” “believe,”
“target,” “forecast,” “goal,” “objective,” “continue” or the
negative of such terms or other variations thereof and words and
terms of similar substance used in connection with any discussion
of future plans, actions, or events identify forward-looking
statements. These forward-looking statements include, but are not
limited to, statements regarding benefits of the merger,
integration plans and expected synergies, anticipated future
financial and operating performance and results, including
estimates for growth. There are a number of risks and uncertainties
that could cause actual results to differ materially from the
forward-looking statements included in this communication. For
example, the ability to successfully integrate the businesses of
Kraft and Heinz, risks related to disruption of management time
from ongoing business operations due to the transaction and the
risk that the merger could have an adverse effect on the ability of
Kraft and Heinz to retain customers and retain and hire key
personnel and maintain relationships with their suppliers and
customers and on their operating results and businesses generally,
problems may arise in successfully integrating the businesses of
the companies, which may result in the combined company not
operating as effectively and efficiently as expected, the combined
company may be unable to achieve cost-cutting synergies or it may
take longer than expected to achieve those synergies, and other
factors. All such factors are difficult to predict and are beyond
our control. We disclaim and do not undertake any obligation to
update or revise any forward-looking statement in this report,
except as required by applicable law or regulation.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20150702005852/en/
The Kraft Heinz CompanyMedia:Michael MullenSVP, Corporate
& Government
Affairs+1-412-456-5751michael.mullen@kraftheinzcompany.comorInvestors:ir@kraftheinzcompany.com
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