Kraft Heinz
American multinational food company
From Wikipedia, the free encyclopedia
The Kraft Heinz Company, commonly known as Kraft Heinz, is an American multinational food company formed on July 2, 2015, through the merger of Kraft Foods Group and the H.J. Heinz Company. It is co-headquartered in Chicago and Pittsburgh and manufactures and markets packaged foods and beverages under brands including Kraft, Heinz, Oscar Mayer, Philadelphia, Lunchables, Velveeta, Maxwell House, and Jell-O. In fiscal 2025, the company reported net sales of US$24.9 billion and employed approximately 35,000 people in 40 countries.[2]
| |
 | |
| Type | Public |
|---|---|
| |
| Industry | Food |
| Predecessor | |
| Founded | July 2, 2015 |
| Headquarters | Chicago, Illinois, and Pittsburgh, Pennsylvania , United States |
Area served | Worldwide |
Key people |
|
| Products | |
| Revenue |  US$24.942 billion (2025) |
| −US$4.669 billion (2025) | |
| −US$5.848 billion (2025) | |
| Total assets | US$81.786 billion (2025) |
| Total equity | US$41.664 billion (2025) |
| Owners |
|
Number of employees | c. 35,000 (2025) |
| Website | kraftheinzcompany |
| Footnotes Financial figures are for the fiscal year ended December 27, 2025.[2] | |
Since the merger, Kraft Heinz has made an unsuccessful takeover approach for Unilever, recorded large brand write-downs, faced an accounting investigation by the U.S. Securities and Exchange Commission, and reshaped its portfolio through acquisitions and divestitures. In September 2025, the company announced a proposed separation into two publicly traded companies. Its board paused work on the separation in February 2026, and Kraft Heinz said in May 2026 that the timing and completion of the proposal remained uncertain.[2][3]
History
Formation and early years
In March 2015, the boards of Kraft Foods Group and H.J. Heinz agreed to merge, subject to shareholder and regulatory approval.[4] The transaction was completed on July 2, 2015, creating The Kraft Heinz Company.[5] At the time it was announced, the combined company was described as the world's fifth-largest food and beverage company.[6]
In February 2017, Kraft Heinz made a $143 billion takeover approach for the British-Dutch consumer-goods company Unilever. Unilever rejected the proposal, and Kraft Heinz abandoned the approach two days later.[7][8]
Kraft Heinz subsequently acquired Cerebos Pacific in March 2018 and Primal Kitchen in January 2019. The acquisitions cost $244 million and $201 million, respectively.[9]
Accounting investigation and portfolio changes
In February 2019, Kraft Heinz announced a $15.4 billion write-down of its Kraft and Oscar Mayer brands, cut its dividend, and disclosed that the U.S. Securities and Exchange Commission (SEC) had opened an investigation into its accounting practices.[10] Miguel Patricio replaced Bernardo Hees as chief executive on June 25, 2019.[11] In 2021, the company agreed to pay $62 million to settle SEC charges related to the accounting practices.[12][13]
From 2020 through 2022, Kraft Heinz sold a large part of its cheese business to Lactalis and its nuts business, including Planters, to Hormel. It also acquired Assan Foods, Hemmer, and a majority stake in the German spice company Just Spices.[14][15][16]
Proposed separation
On September 2, 2025, Kraft Heinz announced a plan to separate into two independent, publicly traded companies through a spin-off intended to be tax-free. One proposed company would focus on sauces, spreads, seasonings, and shelf-stable meals, while the other would focus on certain North American grocery staples. The company said the final names of the proposed businesses had not been determined.[17][2]
In December 2025, Kraft Heinz announced that Steve Cahillane would succeed Carlos Abrams-Rivera as chief executive and that John T. Cahill would become chair of the board, both effective January 1, 2026.[18] On February 11, 2026, the board paused work on the separation. In its May 2026 quarterly report, Kraft Heinz said the timing and completion of the proposal remained uncertain.[2][3]
Brands
As of 2023, a partial list of global brands included in the Kraft Heinz portfolio:[19]
Kraft and Heinz:
- Kraft Dinner
- Kraft Parmesan Cheese[20]
- Kraft Peanut Butter (Canada)
- Heinz Corned Beef (Africa and the Middle East)
- Heinz Ketchup
Other:
- A.1. Sauce
- ABC
- Amoy
- Aproten
- Baker's Chocolate
- Bénédicta
- Boca Burger
- Breakstone's
- Brinta
- Capri-Sun
- Cheez Whiz
- Classico
- Claussen pickles
- Cool Whip
- Corn Nuts
- Crystal Light
- Daddies
- De Ruijter
- Greenseas
- Grey Poupon
- Golden Circle
- Hamper (Australia)
- Hemmer
- Honig
- HP Sauce
- Jell-O
- Karvan Cévitam
- Kool-Aid
- Lea & Perrins
- Lunchables
- Master Soy Sauce
- Maxwell House
- MiO
- Miracle Whip
- Mr. Yoshida's
- Nancy's
- Ore-Ida
- Original Juice Co.
- Orlando
- Oscar Mayer
- Ox & Palm (Australia)
- P3
- Philadelphia Cream Cheese
- Plasmon
- Primal Kitchen
- Pudliszki
- PurePet
- Quero
- Roosvicee
- Shake 'n Bake
- Smart Ones
- Stove Top
- Sure-Jeil
- Taco Bell At Home
- Tassimo
- TGI Fridays
- Velveeta
- Venz
- Wattie's
- Wijko
- Wyler's
Finance
For the fiscal year 2017, Kraft Heinz reported earnings of US$11.0 billion, with annual revenue of US$26.2 billion, a decline of 0.6% over the previous fiscal cycle. Kraft Heinz's shares traded at over $61 per share, and its market capitalization was valued at over US$136 billion in September 2018.[21]
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 probe into its accounting practices.[22] In August 2019, Kraft Heinz announced a further $1.22 billion in writedowns,[23] as well as the return of its former CFO, Paulo Basilio, who held the position until 2017, to replace David Knopf, saying that it wanted a "seasoned veteran" following a series of accounting errors.[24]
On February 21, 2019, Kraft Heinz reported that it received a Securities and Exchange Commission (SEC) subpoena in October that aimed to look into the company's accounting policies and internal controls.[25] Kraft Heinz also announced that it cut its dividend from 62.5 cents a share to 40 cents.[25] 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.[26] The all-resulting news made the company's stock crash more than 20% in after-hours trading.[26] The stock plunge resulted in Berkshire Hathaway, the largest stockowner, recording a write down of $3 billion and a stock value loss of $4.3 billion just a day before Berkshire Hathaway's quarterly earnings and annual report to investors.[27][28]
In September 2020, Kraft Heinz announced its new enterprise strategy, including plans to cut $2 billion in costs over five years, resulting in an estimated generation of 4% to 6% adjusted earnings per share growth.[29] The announcement resulted in multiple stock upgrades by CFRA and Guggenheim due to the renewed positive financial outlook of the company.[30]
In September 2021, Kraft Heinz was fined $62m to settle the U.S. Securities and Exchange Commission probe into an improper claim of $200m in cost savings.[31][32] The $200 million in "bogus cost savings" (reportedly from merger) forced the company to restate its financial results for the years 2015 through 2018.[33]
| Year | Revenue in million US$ |
Net income in million US$ |
Price per Share in US$ |
Employees |
|---|---|---|---|---|
| 2010 | 17,797 | 3,534 | ||
| 2011 | 18,576 | 1,775 | ||
| 2012 | 18,271 | 1,637 | ||
| 2013 | 11,529 | 1,013 | ||
| 2014 | 10,922 | −63 | ||
| 2015 | 18,338 | −266 | 77.01 | 42,000 |
| 2016 | 26,487 | 3,452 | 81.91 | 41,000 |
| 2017 | 26,232 | 10,999 | 61.75 | 39,000 |
| 2018 | 26,300 | −10,200 | ||
| 2019 | 24,977 | 1,935 | ||
| 2020 | 26,185 | 1,032 | 34.66 | 38,757 |
| 2021[34] | 26,040 | 1,020 | ||
| 2022[35] | 26,485 | 2,368 | ||
| 2023[36] | 26,640 | 2,855 | 36,000 | |
| 2024[36] | 25,846 | 2,744 | 36,000 |
Animal welfare
In 2017, Kraft Heinz committed to making a number of improvements to the welfare of broiler chickens in their supply chains by 2024. These included commitments to source chickens from high welfare breeds, provide birds with more space, and implement third-party monitoring.[37]
In 2019, Kraft Heinz made an updated pledge to comply with the European Chicken Commitment, an animal welfare standard, for 100% of the chickens in its supply chain, by 2026.[38]
In 2021, the BBFAW, an animal welfare monitoring organization, gave Kraft Heinz a rating that indicated it had established animal welfare practices but still has room to grow. At that time, according to Kraft Heinz, 70% of the chickens in the company's supply chain were cage-free or free-range.[39]
Controversies
In 2017, the claim that the Kraft Parmesan Cheese label was misleading was rejected by judges. The label reads "Kraft 100% Grated Parmesan Cheese". It was argued that a "reasonable consumer" would know the product could not be 100% cheese, as any dairy product degrades quickly without preservatives.[20]
On December 1, 2023, a federal jury in Illinois awarded $17.8 million to several large food companies, including Kraft Heinz, in a lawsuit against Cal-Maine Foods, Inc. and others over allegations of egg price fixing. Cal-Maine Foods, contesting the verdict, insists on its innocence and the absence of wrongdoing in its business practices.[40]
