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The company claims to have 150 number-one or number-two brands worldwide. [3] Heinz ranked first in ketchup in the US with a market share in excess of 50%; [4] [5] the Ore-Ida label held 46% of the frozen potato sector in 2003. [6]
Kraft Heinz also announced that they cut their dividend from 62.5 cents a share to 40 cents. [56] The company also announced a goodwill impairment charge that wrote down the value of the company's Kraft and Oscar Mayer brands of $15.4 billion in the fourth quarter, which resulted in a net loss of $12.61 billion. [ 57 ]
Henry John Heinz (October 11, 1844 – May 14, 1919) was an American entrepreneur who co-founded the H. J. Heinz Company of Pittsburgh, Pennsylvania. He was involved in the passage of the 1906 Pure Food and Drug Act. Many of his descendants are known for philanthropy and involvement in politics and public affairs.
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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Henry John Heinz II (July 10, 1908 – February 23, 1987) was an American business executive and CEO of the H. J. Heinz Company based in Pittsburgh, Pennsylvania, US.His grandfather Henry J. Heinz founded the company in the nineteenth century, and he worked in a variety of positions within the company before becoming CEO.