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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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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]
The H. J. Heinz Company was incorporated in 1905 with Heinz serving as its first president, retaining that position for the rest of his life. [6] At the time of Heinz's death in Pittsburgh at the age of 74, the H. J. Heinz Company had more than 20 food processing plants and owned seed farms and container factories. [citation needed]
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