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US: Shareholders approve Heinz, Kraft merger

By  |  July 1, 2015

Kraft shareholders have approved the sale of the company to ketchup maker H.J. Heinz, creating one of the world’s largest food companies with annual revenue of about $28 billion.

Heinz’ owners, Warren Buffett’s Berkshire Hathaway and the Brazilian investment firm 3G Capital engineered the deal, first announced in March, and will control 51 percent of the new Kraft Heinz.

The new Kraft Heinz Co., which brings together the fourth and 11th largest North American food and beverage companies based on revenue, will have about $28 billion in annual revenue and rank as the third largest player with brands such as Velveeta, Oscar Mayer, Lunchables and Grey Poupon.

Full content: The Wall Street Journal

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