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In February 2019, shares in Kraft Heinz fell to a record low of under $35 after the company reported a $10.2bn loss for the previous year as the company announced that it would take a $15.4 billion writedown of its Kraft and Oscar Mayer brands, cut its dividend, and acknowledged that the U.S. Securities and Exchange Commission had opened a ...
Kraft Foods Inc. (/ ˈ k r æ f t /) was a multinational confectionery, food and beverage conglomerate. [4] It marketed many brands in more than 170 countries. Twelve of its brands annually earned more than $1 billion worldwide: Cadbury, Jacobs, Kraft, LU, Maxwell House, Milka, Nabisco, Oreo, Oscar Mayer, Philadelphia, Trident, and Tang. [5]
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On March 25, 2015, Kraft Foods Group Inc. announced that it would merge with the H.J. Heinz Company, owned by 3G Capital and Berkshire Hathaway Inc. [17] Kraft's shares rose about 17 percent in premarket trading after the announcement of the deal, which will bring Heinz back to the public market following its takeover over two years prior. [18]
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