PITTSBURGH and NORTHFIELD, Ill. – July 1, 2015 – Kraft Foods Group, Inc. (NASDAQ:KRFT) shareholders today voted to approve the previously announced merger agreement
providing for the creation of The Kraft Heinz Company. In a preliminary count of the voting results, more than 98 percent of votes cast at the special meeting voted in favor of the transaction, representing more than 69 percent of all outstanding Kraft shares, clearing the way for the merger to close after market close tomorrow, July 2, 2015, subject to certain customary closing conditions.
The transaction will create the third-largest food and beverage company in North America, and the fifth-largest food and beverage company in the world. “Today’s approval to create The Kraft Heinz Company will unite two powerful businesses, deliver incredible shareholder value, and provide a platform for growth both domestically and internationally,” said Alex Behring, future Chairman of The Kraft Heinz Company and Managing Partner at 3G Capital.
“This truly is a historic moment for our two companies as we combine to become a global food and beverage leader with an unparalleled portfolio of great brands,” said John T. Cahill, Kraft Foods Group Chairman and CEO and future Vice Chairman of The Kraft Heinz Company. “It has been a privilege to serve Kraft, and I look forward to continue serving The Kraft Heinz Company on its board of directors.”
The merger was announced on March 25, 2015 and received regulatory approvals in the U.S. and Canada. The final voting results will be disclosed in a Current Report on Form 8-K to be filed with the Securities and Exchange Commission later today.
ABOUT HEINZ
H.J. Heinz Company, offering “Good Food Every Day”™, is one of the world’s leading marketers and producers of healthy, convenient and affordable foods specializing in ketchup, sauces, meals, soups, snacks and infant nutrition. Heinz provides superior quality, taste and nutrition for all eating occasions whether in the home, restaurants, the office or “on-the-go.” Heinz is a global family of leading branded products, including Heinz® Ketchup, sauces, soups, beans, pasta and infant foods (representing over one third of Heinz’s total sales), Ore-Ida® potato products, Weight Watchers® Smart Ones® entrées, T.G.I. Friday’s® snacks, and Plasmon infant
nutrition. Heinz is famous for its iconic brands on six continents, showcased by Heinz® Ketchup, The World’s Favorite Ketchup®. For more information, visit www.heinz.com.
ABOUT KRAFT FOODS GROUP
Kraft Foods Group, Inc. (NASDAQ: KRFT) is one of North America’s largest consumer packaged food and beverage companies, with annual revenues of more than $18 billion. The company’s iconic brands include Kraft, Capri Sun, Jell-O, Kool-Aid, Lunchables, Maxwell House, Oscar Mayer, Philadelphia, Planters and Velveeta. Kraft’s 22,000 employees in the U.S. and Canada have a passion for making the foods and beverages people love. Kraft is a member of the Standard & Poor’s 500 and the NASDAQ-100 indices. For more information, visit www.kraftfoodsgroup.com and www.facebook.com/kraft.
One Response to “Kraft Foods Group Shareholders Approve Merger Transaction with H.J. Heinz Holding Corporation and its Subsidiaries”
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July 1st, 2015 at 6:18 pm
This merger seems to be one of genuity since both partners share similar values as the two companies combine to become a global food and beverage leader with an unparalleled portfolio of great brands. They are also seeking to duplicate themselves, presently the merger has received regulatory approvals in the U.S. and Canada with plans to provide a platform for growth both domestically and internationally.There is the focus on natural potentials here, because they are working collectively on what they are both good at, Kraft’s 22,000 employees in the U.S. and Canada have a passion for making the foods and beverages people love. H.J. Heinz Company, offering “Good Food Every Day”™, is one of the world’s leading marketers and producers of healthy, convenient and affordable foods specializing in ketchup, sauces, meals, soups, snacks and infant nutrition. Heinz provides superior quality, taste and nutrition for all eating occasions whether in the home, restaurants, the office or “on-the-go.” However, from the report, only KRAFT FOODS GROUP appears to be involved with giving. Kraft is a member of the Standard & Poor’s 500 and the NASDAQ-100 indices. Who was Heinz involved with prior to the merger?
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