American concern Kraft Heinz Company and its position in the food market
Kraft Heinz Company is a large concern that is represented in the food market. It was formed after the merger of the U.S. corporations Kraft Foods Group and Heinz, and its head office is located in Chicago. The company’s shares are listed on various stock exchanges, including New York.
In 2015 Heinz took over Kraft Foods, the first bought 51% of the shares of the second. In 2017 Kraft Heinz decided to acquire Unilever Corporation, which has owners from the UK and Denmark. At the same time, the latter is much larger than the American concern. The amount of the deal was to be 143 billion dollars. However, the management of Unilever did not agree to the terms of Kraft Heinz. The idea of the acquisition was abandoned by the U.S. corporation and a request was made to the executive authorities of Great Britain to check the legality of this transaction and the terms of its implementation. This recommendation came directly from Teresa May, who was the prime minister of the kingdom.
The year Heinz was founded is considered 1869, and the company produced food, the most famous of which was ketchup. At one time, the latter accounted for 50 percent of the entire U.S. market.
In 2013, the company was bought by two funds – Berkshire Hathaway and 3G Capital, the amount of the deal was 23 billion dollars. The new owners changed the top management, and Bernardo Jesus, who previously held a senior position in the fast food chain Burger King, was appointed CEO of Heinz. This appointment was the reason McDonalds refused the company’s sauces in its establishments, due to the long competition between fast food chains.
Kraft Foods started as an independent company in 2012, when it separated from Kraft Foods Inc. The company has 12 food brands, including Milka, Jacobs, Oreo and others. In total, they generate about 1 billion profits per year.
Kraft Heinz is engaged in the production of food industry products of more than 200 brands, most of them are known not only in the U.S., but also around the world: Kraft, Capri Sun, Heinz and Quero.
Despite the fact that ketchup is a business card of the concern, it produces food in different categories:
- coffee presented by brands Maxwell House, Carte Noire, Jacob and others;
- chocolate, among which are Toblerone and Alpen Gold;
- food products for children;
- pasta, soft and hard cheeses.
The Corporation ranks fifth in the world in terms of production volumes. All products of Kraft Heinz are of high quality, for all companies there are certain standards that must be followed, it is controlled by the appropriate internal services.