Heinz

For other uses, see Heinz (disambiguation).

Kraft Heinz Foods Company
FormerlyH. J. Heinz Company
Company typeSubsidiary
NYSE: HNZ (until 2013)
IndustryFood processing[1]
FoundedJanuary 1869; 155 years ago (1869-01) (as Heinz Noble & Company)
Sharpsburg, Pennsylvania, U.S.
FounderHenry J. Heinz
FateMerged with Kraft Foods to form Kraft Heinz, remaining as a subsidiary
SuccessorKraft Heinz
Headquarters
Pittsburgh, Pennsylvania
,
United States
Area served
Worldwide
ProductsSauces, condiments
ParentKraft Heinz
Websiteheinz.com

The Kraft Heinz Foods Company, formerly the H. J. Heinz Company and commonly known as Heinz (/haɪnz/), is an American food processing company headquartered at One PPG Place in Pittsburgh, Pennsylvania.[2] The company was founded by Henry J. Heinz in 1869. Heinz manufactures food products in plants on six continents, and markets these products in more than 200 countries and territories. The company claims to have 150 number-one or number-two brands worldwide.[3] Heinz ranked first in ketchup in the US with a market share in excess of 50%;[4][5] the Ore-Ida label held 46% of the frozen potato sector in 2003.[6]

Since 1896, the company used its "57 Varieties" slogan; it was inspired by a sign advertising 21 styles of shoes, and Henry Heinz chose the number 57 even though the company manufactured more than 60 products at the time, because "5" was his lucky number and "7" was his wife's.[7]

In February 2013, Heinz agreed to be purchased by Berkshire Hathaway and the Brazilian investment firm 3G Capital for $23 billion.[8] On March 25, 2015, Kraft announced its merger with Heinz, arranged by Berkshire Hathaway and 3G Capital.[9][10] The resulting Kraft Heinz Company is the fifth largest food company in the world.[11] Berkshire Hathaway became a majority owner of Heinz on June 18, 2015. After exercising a warrant to acquire 46 million shares of common stock for a total price of over $461 million, Berkshire increased its stake to 52.5%.[12] The merger to form Kraft Heinz was completed on July 2, 2015.

  1. ^ Cite error: The named reference fortu2000 was invoked but never defined (see the help page).
  2. ^ "Kraft Heinz moving Illinois headquarters from Northfield to Chicago". www.bizjournals.com. Retrieved September 16, 2018.
  3. ^ Byrne, Brendan (March 27, 2013). "Heinz Set For Shareholder Vote". Valuewalk.com. Archived from the original on April 10, 2015. Heinz is as international as they come claiming to have 150 number-one or number two-brands worldwide.
  4. ^ "Heinz Still 'America's Favorite Ketchup'". CBS MoneyWatch. October 1, 2009. the Heinz brand generates almost $4 billion in annual sales, with a global reach across all of the company's food categories—ketchup in the United States, salas cream and baked beans in Great Britain, and baby food in Canada and Latin America—and its products enjoy #1 or #2 market share in more than 50 countries
  5. ^ Javier E. David (February 15, 2013). "The Ketchup War that Never Was: Burger Giants' Link to Heinz". CNBC. Pittsburgh-based Heinz commands a 60% market share in the U.S
  6. ^ "Mr. Potato Head A dirt-poor farmer turned spud scraps into gold". CNN Money. November 1, 2003.
  7. ^ Rawsthorn, Alice (April 12, 2009). "An Icon, Despite Itself". The New York Times. Retrieved June 9, 2009.
  8. ^ "Berkshire Hathaway, 3G Buying Heinz for $23.3 Billion". Cnbc.com. November 21, 2012. Retrieved February 14, 2013.
  9. ^ "3G Capital, Berkshire to Buy Kraft Foods, Merge It With Heinz". Bloomberg. March 25, 2015. Retrieved March 25, 2015.
  10. ^ "H.J. Heinz Company and Kraft Foods Group Sign Definitive Merger Agreement to Form The Kraft Heinz Company". H.J. Heinz Press Release. March 25, 2015. Archived from the original on March 25, 2015. Retrieved March 25, 2015.
  11. ^ Feeney, Nolan (March 25, 2015). "Kraft and Heinz Merge to Become World's 5th-Largest Food Company". Time.
  12. ^ Cabural, Marie (June 18, 2015). "Berkshire Hathaway Becomes Majority Owner of H.J. Heinz Company". ValueWalk. Retrieved June 19, 2015.