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Private Investors Merge Kraft Foods With Heinz In Mega-Deal

March 25, 2015: 12:00 AM EST
Private investors 3G Capital of Brazil and Warren Buffett’s Berkshire Hathaway have worked out a deal to buy Kraft Foods Group and merge it with H. J. Heinz, which 3G and Buffett bought two years ago. The new company, Kraft Heinz, will have revenues of approximately $28 billion and a market value of $80 billion. The combined product lines will include eight brands worth $1 billion or more and five brands worth between $500 million and $1 billion. The deal comes at a time when U.S. consumers are backing away from processed foods and turning to local, fresh and organic products.
"H.J. Heinz Company and Kraft Foods Group Sign Definitive Merger Agreement to Form The Kraft Heinz Company", H.J. Heinz Company and Kraft Foods Group, Inc., March 25, 2015, © H.J. Heinz Company and Kraft Foods Group, Inc.
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