American Kraft Heinz Co., one of the world’s largest food producers, is considering potential strategic deals to increase shareholder value. According to the company’s statement, this process has been ongoing for several months, but at this time there is no guarantee that it will result in any transaction.
“The company has not set a timeline for the completion of this process and does not plan to make any further announcements regarding it unless it believes additional disclosure is appropriate or necessary,” the press release said.
Two members of Kraft Heinz’s board of directors representing Berkshire Hathaway Inc. are leaving the company’s board of directors. This is not related to the company’s operations, policies, or practices, the statement said.
In recent years, Kraft Heinz has faced weakening demand for its core product lines. In April, it lowered its annual forecasts, citing economic uncertainty related, in particular, to the situation in the retail sector. Kraft Heinz shares rose 1.4% in after-hours trading on Tuesday. Since the beginning of this year, their value has fallen by 9.2%. Kraft Heinz was formed in 2015 through the merger of H.J. Heinz Co. and Kraft Foods Group Inc. The company’s portfolio includes well-known brands such as Philadelphia cheese, Maxwell House coffee, Heinz ketchups and baby food, and Jell-O desserts. The company’s products are sold in 190 countries.
