Heinz, Kraft to merge as Buffett, 3G reinvest $10bn
US food giants Heinz and Kraft
New York - AFP
US food giants Heinz and Kraft will merge to become North America's third largest food and beverage company, the two firms said in a joint statement Wednesday.
Heinz's current shareholders will retain a 51 percent stake in the new Kraft Heinz Company, and Heinz's controlling shareholders, US billionaire Warren Buffet and 3G Capital of Brazil, will reinvest $10 billion dollars (9.13 billion euros) in the new group, the statement said.
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