Kraft Heinz
The Kraft Heinz Company (KHC), commonly known as Kraft Heinz (/ˈkræft ˈhaɪnz/), is an American multinational food company formed by the merger of Kraft Foods and H.J. Heinz Company co-headquartered in Chicago and Pittsburgh.[4][5] Kraft Heinz is the third-largest food and beverage company in North America and the fifth-largest in the world with over $26.0 billion in annual sales as of 2021.[6][7]
Company type
- Nasdaq: KHC
- Nasdaq-100 component
- S&P 100 component
- S&P 500 component
July 2, 2015
Worldwide
- Miguel Patricio (chairman)
- Carlos Abrams-Rivera (CEO)
- Andre Maciel (CFO)
US$26.64 billion (2023)
US$4.572 billion (2023)
US$2.846 billion (2023)
US$90.34 billion (2023)
US$49.67 billion (2023)
- Berkshire Hathaway (26.5%)[2]
c. 36,000 (2023)
In addition to Kraft and Heinz, over 20 other brands are part of the company's profile including Boca Burger, Gevalia, Grey Poupon, Oscar Mayer, Philadelphia Cream Cheese, Primal Kitchen, and Wattie's, eight of which have total individual sales of over $1 billion.[8] Kraft Heinz ranked 114th in the 2018 Fortune 500 list of the largest United States corporations based on 2017 total revenue.[9]
As of 2023, a partial list of global brands included in the Kraft Heinz portfolio:[49]
Kraft and Heinz:
Other:
Lawsuits[edit]
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 that the product could not be 100% cheese, as any dairy product degrades quickly without preservatives.[50]
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.[66]