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Kraft Heinz to split into two companies in growth push

Kraft Heinz said today it would split into two publicly-listed companies, one focusing on the sauces business and the other on groceries, as the US packaged goods maker aims to revive growth after years of muted sales.

Business • 02 Sep

Kraft Heinz beats quarterly estimates on steady US demand

Kraft Heinz today posted better-than-expected net sales and profit for the second quarter, helped by resilient demand for its pantry staples and condiments in the US as consumers tried to stretch their household budgets.

Business • 30 Jul

Kraft Heinz manufactures its market-leading Heinz ketchup, Kraft macaroni and cheese and Philadelphia cream cheese, among other products, at 30 plants across the US

Kraft Heinz investing $3 billion upgrading US factories

Kraft Heinz is spending $3 billion to upgrade its US factories, its largest investment in its plants in a decade, even as executives say consumer sentiment is at its second-lowest point in 70 years, and it has cut sales and profit forecasts.

Business • 14 May

Kraft Heinz is facing sluggish demand for its products such as Lunchables and packaged meat after price hikes

Kraft Heinz forecasts annual profit below estimates

Kraft Heinz has today forecast annual profit below estimates and missed quarterly sales estimates, as the packaged food maker faces sluggish demand for its products such as Lunchables and packaged meat following price hikes.

Business • 12 Feb

The plaintiffs are seeking damages for fraud, unjust enrichment, and violations of state consumer protection laws

Kraft Heinz must face Mac & Cheese lawsuit

A US federal judge said Kraft Heinz must face a proposed nationwide class action alleging that it defrauded consumers by claiming its Kraft macaroni and cheese, one of its best-known products, contains no artificial preservatives.

Business • 14 Nov 24

Kraft Heinz said its net sales fell 2.8% to $6.38 billion, compared with estimates of $6.42 billion

Kraft Heinz trims its annual forecasts

Kraft Heinz has today tempered its annual forecasts for organic sales and profit as repeated price hikes hurt demand for the packaged food giant's branded products including Lunchables meal kits and Oscar Mayer cold cuts.

Business • 30 Oct 24

Kraft Heinz has forecast slower annual core sales growth, after missing quarterly sales estimates

Kraft Heinz projects slower annual sales growth

Kraft Heinz has today forecast slower annual core sales growth, after missing quarterly sales estimates, a sign that demand for its soups, sauces and meat cold cuts are likely to remain subdued as customers digest past price hikes.

Business • 14 Feb 24

Russian firms continue to capitalise on the departure of Western brands

Kraft Heinz agrees to sell Russian baby food business

Kraft Heinz has agreed to sell its baby food business in Russia to local drinks and snacks maker Chernogolovka, the US food giant said today, as Russian firms continue to capitalise on the departure of Western brands.

Business • 31 Mar 23

Global packaged foods makers have been steadily raising product prices over the past year

Kraft Heinz beats quarterly sales estimates

Kraft Heinz beat third-quarter sales estimates today, as higher product prices offset pressure from reduced demand for its packaged meals and condiments.

Business • 26 Oct 22

Kraft Heinz said it was working closely with Tesco to resolve the situation as quickly as possible

Kraft Heinz pulls products from Tesco in UK pricing row

US food giant Kraft Heinz has stopped supplying some products to supermarket group Tesco in the UK, which resisted charging its customers higher prices for them at a time of surging inflation.

Business • 30 Jun 22

Packaged food makers have been increasing prices of their products to contend with surging costs

Kraft Heinz beats sales estimates on robust demand

Kraft Heinz today posted fourth-quarter sales and earnings above Wall Street expectations, boosted by higher product prices and sustained demand for its packaged foods and condiments.

Business • 16 Feb 22

Unilever's Dutch shareholders vote on unification

Shareholders of Unilever in the Netherlands are expected to back plans to unify the consumer goods giant under a single parent company based in London and end 90 years as an Anglo-Dutch hybrid.

Business • 18 Sep 20

This marks Kraft Heinz's second major write down since February 21, when the company knocked $15.4 billion off the value of its Kraft and Oscar Mayer brands

First half profits slump at Kraft Heinz

Kraft Heinz's net income halved in the first six months of the year, the packaged food maker said as it wrote down the value of several business units by over $1 billion in results delayed by an internal investigation into procurement practices.

Business • 08 Aug 19

Wells Fargo was among many topics discussed at Berkshire's annual meeting in Omaha

Buffett criticises Wells Fargo, defends 3G at meeting

Warren Buffett has criticised Wells Fargo for failing to stop employees from signing up customers for bogus accounts even after learning it was happening, causing a scandal.

Business • 08 May 17

Paul Polman, Unilever's chief executive, said today's results reconfirmed the strength of Unilever's business model.

Unilever's first quarter sales top expectations

Unilever reported a surprise pick up in quarterly sales growth, boosting its argument that it can improve performance on its own after spurning a takeover offer from Kraft Heinz in February.

Business • 20 Apr 17

Unilever's chief executive Paul Polman determined to put the company on a firmer footing

Unilever promises cash to shareholders after Kraft bid

Unilever today promised a multi-billion pound programme of shareholder rewards after a corporate rethink sparked by a takeover approach from Kraft Heinz.

Business • 06 Apr 17

All aspects of the consumer goods giant's business are up for review to increase shareholder value

Kraft's shock bid to spur focus on value: Unilever

Unilever said the shock of Kraft Heinz's opportunistic approach had jolted it to re-examine its strategy.

Business • 24 Feb 17

Unilever's London-listed shares, which jumped 13% on Friday when the approach was made public, fell 8% in early trading today

Unilever shares drop 8% after merger abandoned

Shares in Anglo-Dutch consumer goods group Unilever have dropped 8% today after US rival Kraft Heinz abruptly ditched its surprise $143 billion (€134 billion) merger proposal.

Business • 20 Feb 17

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