Two U.S. brands that have been household names — literally — for decades have announced plans to merge. The Washington Post reports that a billion-dollar mega-merger is in the works between H.J. Heinz and Kraft Foods Group.
Heinz, known for its ketchup, and Kraft, known for processed cheese, announced today that they would combine to become one of the world’s largest food companies.
“The Kraft Heinz Co., headquartered in both Pittsburgh and the Chicago area, will become North America’s third-largest food and drink empire, owning eight household-name chow brands with annual sales of $1 billion or more,” The Post reports.
The story adds: “Heinz and Kraft’s classic staples are hallmarks of the American family meal. Heinz makes ketchup, Bagel Bites and Classico pasta sauce. Kraft’s brands include Capri Sun, Cheez Whiz, Cool Whip, Jell-O, Kool Aid, Lunchables, Oscar Mayer and Velveeta, as well as its namesake dressing, mayo and macaroni and cheese. The company says its products can be found in a staggering 98 percent of North American households.”
Please click on the link at the top of this story to read additional details in the Post story.