Kraft Heinz

Kraft Heinz is an American food company formed by the 2015 merger of Kraft Foods Group and H. J. Heinz Company. Its brands include Kraft, Heinz, Oscar Mayer, and Philadelphia.

Kraft Foods: Kraft Foods was an American packaged-food company whose North American grocery business became Kraft Foods Group in 2012. Kraft Foods Group was one of the two companies combined to create Kraft Heinz.
Kraft Foods Group: Kraft Foods Group was the North American grocery company spun off from Kraft Foods Inc. in 2012. This was the Kraft entity that merged with H. J. Heinz Company.
Oscar Mayer: Oscar Mayer is an American processed-meat brand known for hot dogs, bacon, and cold cuts. It anchors Kraft Heinz’s presence in refrigerated and packaged meats.
2019 Kraft Heinz accounting scandal: The 2019 Kraft Heinz accounting scandal involved improper procurement practices and led to a large impairment charge and an SEC settlement. The episode exposed weaknesses in controls during the company’s cost-focused expansion.
General Mills: General Mills is an American food company whose brands include Cheerios, Betty Crocker, and Häagen-Dazs. It competes in packaged foods but has a different portfolio and corporate history.
H. J. Heinz Company: H. J. Heinz Company was an American food company best known for Heinz ketchup and other packaged foods. The Heinz company supplied the other half of the 2015 merger.
Kraft Foods Inc.: Kraft Foods Inc. was an international packaged-food company formed from the 1988 acquisition of Kraft by Philip Morris. Its restructuring created Kraft Foods Group, the company later combined with Heinz.
Philadelphia cream cheese: Philadelphia is a brand of cream cheese and related products owned by Kraft Heinz. It represents the company’s dairy and spreads business.
Goodwill impairment: Goodwill impairment is an accounting charge recognizing that an acquired business is worth less than its recorded carrying value. Kraft Heinz recorded major write-downs as expectations for several acquired brands fell.
Conagra Brands: Conagra Brands is an American packaged-food company with brands including Birds Eye, Duncan Hines, and Slim Jim. It is a close domestic peer in grocery and frozen foods.

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