Anticipation remains for Heinz and Kraft merger
H.J Heinz Company and Kraft Foods Group receive regulatory approval for proposed merger from Canada's Competition Bureau.
June 12, 2015 By Andrew Joseph
PITTSBURGH and NORTHFIELD, Ill.—The H.J. Heinz Company and Kraft Foods Group have received a “no action” letter from the Canadian Competition Bureau, indicating it does not intend to challenge the companies’ proposed merger.
The transaction remains subject to approval by Kraft shareholders and other customary closing conditions.
Kraft will hold a special meeting of shareholders to vote on the merger on July 1, 2015. Additional information concerning the proposed merger and the special meeting is included in the definitive Proxy Statement/Prospectus, which was filed with the Securities and Exchange Commission on June 2, 2015 and mailed to Kraft shareholders who are entitled to vote on the proposal.
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. Heinz provides superior quality, taste and nutrition for all eating occasions whether in the home, restaurants, the office or “on-the-go.” Heinz is a global family of leading branded products, including Heinz Ketchup, sauces, soups, beans, pasta and infant foods (representing over one third of Heinz’s total sales), Ore-Ida potato products, Weight Watchers Smart Ones entrees, T.G.I. Friday’s snacks, and Plasmon 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 $18 billion. The company’s iconic brands include Kraft, Capri Sun, JELL-O, Kool-Aid, Lunchables, Maxwell House, Oscar Mayer, Philadelphia, Planters and Velveeta. Kraft’s has 22,000 employees in the U.S. and Canada. For more information about Kraft, visit www.kraftfoodsgroup.com and www.facebook.com/kraft.