H.J. Heinz Company and Kraft Foods Group merge to form The Kraft Heinz Company

Date Closed

July 02, 2015

Lead Office

Toronto

Value

60.00 Billion USD

On July 2, 2015,  H.J. Heinz Company and Kraft Foods Group, Inc. closed a merger agreement to create The Kraft Heinz Company, forming the third largest food and beverage company in North America with an unparalleled portfolio of iconic brands.  Kraft shareholders received stock in the combined company and a special cash dividend of US$16.50 per share. The aggregate special dividend payment of approximately US$10 billion was  fully funded by an equity contribution by Berkshire Hathaway and 3G Capital.  By continuing to own shares of the new combined company, Kraft  and Heinz shareholders also have the opportunity to participate in the new company’s long-term value creation potential.

H.J. Heinz Company 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.

Kraft Foods Group, Inc. is one of North America's largest consumer packaged food and beverage companies, with annual revenues of more than US$18 billion. The company's iconic brands include Kraft, Capri Sun, Jell-O, Kool-Aid, Lunchables, Maxwell House, Oscar Mayer, Philadelphia, Planters and Velveeta.

McCarthy Tétrault LLP advised Kraft with a team led by Gary Litwack and Matthew Kelleher.

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