Kraft, Heinz plan merger

Kraft, Heinz plan merger

Combined entity to create third-largest packaged food company in U.S.

Kraft Foods Group Inc. and H.J. Heinz Co. announced plans Wednesday to merge in a deal that would create the third-largest packaged food business in the U.S., as well as a major supplier of products to restaurants and foodservice companies.

The new entity will be called the Kraft Heinz Company, and will be co-headquartered in Chicago and Pittsburgh. It would be the fifth-largest packaged food company in the world, with $28 billion in annual revenue and eight brands worth $1 bill

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