Kraft Heinz exploring strategic transactions

The Kraft Heinz Company is evaluating potential strategic transactions but is tight-lipped about these initiatives.

It cautions, “There can be no assurance that the company’s assessment process will result in any transaction, or any assurance as to its outcome or timing.”

“At Kraft Heinz, our goal has always been to make high-quality, great-tasting food for all and to keep consumers at the forefront of all we do, enabling us to drive profitable long-term growth and value creation,” said Kraft Heinz CEO Carlos Abrams-Rivera. “Consistent with this goal, over the past several months we have been evaluating potential strategic transactions to unlock shareholder value.”

In related news, Timothy Kenesey and Alicia Knapp step away from the board, as Berkshire Hathaway, consistent with its other non-controlled investments, will no longer hold board seats on Kraft Heinz. This change means that Kraft Heinz’s board will only have 10 members.

Miguel Patricio, board chair, said, “On behalf of the Board, I’d like to thank Tim and Alicia for their commitment and contributions to Kraft Heinz over the years. We greatly value our strong history with Berkshire Hathaway and look forward to continuing our relationship.”

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