The Associated Press reports that Warren Buffett’s firm has engineered a merger between Heinz and Kraft, creating one of the biggest corporate consolidations in food history. “This is my kind of transaction,“ said Buffett in a printed statement. “Uniting two world-class organizations and delivering shareholder value. I’m excited by the opportunities for what this new combined organization will achieve.“ Heinz will technically be buying Kraft; together the two companies boast $28 billion in annual revenue and are responsible for such brands as Oscar Mayer, Ore-Ida, Cheez Whiz, Cracker Barrel, A1, Cool Whip, Jell-O, Planters, Velveeta, and their eponymous product lines.
HJ Heinz buying Kraft and building a $28 billion food giant: http://bigstory.ap.org/article/96d70a9c03334208ac6fa2dc2cff6813/hj-heinz-buying-kraft-deal-create-food-giant
Heinz and Kraft: What the deal combines: http://bigstory.ap.org/article/178acb9b81e143aab62541bee3669fda/heinz-and-kraft-what-deal-combines