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On February 11, 2021, Kraft Heinz announced its Q4 2020 and full year results resulting in 6.2 percent increased sales and over $26 billion in revenue. The same day, Kraft Heinz announced their plans to sell its nuts business, including the Planters brand to Hormel for $3.35 billion. The transaction was completed on June 7.
Kraft projects that its organic net sales will grow between 0% and 2% this year, and that adjusted operating income and earnings per share will also increase. Although Kraft did cut its...
Mondelez International, Inc. ( / ˈmɒndəˌliːz / MON-də-LEEZ ), [3] styled as Mondelēz International, is an American multinational confectionery, food, holding, beverage and snack food company based in Chicago. [4] Mondelez has an annual revenue of about $26.5 billion and operates in approximately 160 countries. [5]
Bottles of Heinz Tomato Ketchup, a brand owned by The Kraft Heinz Company, are seen in a store in Manhattan, New York, U.S., November 11, 2021.
In August 2022, Kerry Group acquired the B2B powdered cheese business and related assets of The Kraft Heinz Company for consideration of $107.5 million. [22] In January 2023, IRCA, Advent International ’s portfolio company, agreed to buy Kerry Group’s Sweet Ingredients Portfolio for €500 million.
Kraft Heinz shares have fallen 15% this year, dragging its market value down to $42.2 billion. The S&P 500 has risen 16% during that period.
On 15 September 2020, Groupe Lactalis announced an agreement to acquire Kraft Heinz's natural cheese operations in North America and internationally for $3.2 billion. The U.S. Department of Justice ruled that Lactalis must divest the Athenos and Polly-O cheese brands.
Looking at the annual report for Kraft Heinz suggests this is the right range. The company had $27 billion in total net sales in 2023. Of this total, 9% ($2.4 billion) was in the meats and...
Maxwell House. Maxwell House is an American brand of coffee manufactured by a like-named division of Kraft Heinz in North America and JDE Peet's in the rest of the world. Introduced in 1892 by wholesale grocer Joel Owsley Cheek, it was named in honor of the Maxwell House Hotel in Nashville, Tennessee, which was its first major customer. [1]
Kraft Heinz reported on Tuesday that fourth-quarter sales slipped as some customers, pinched by a bout of inflation, traded down to cheaper brands or did not buy as much.