Food and beverage company Kraft Heinz has announced that it is evaluating “potential strategic transactions” to improve shareholder value.
“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.
The company stated that it will not provide any timeline regarding any potential transaction and does not guarantee the sale of any of its brands.
Globally, Kraft Heinz has more than 80 brands. In Australia, it has Greenseas and Golden Circle, and in New Zealand, Watties, Cats Prefer Chef, Food in a Minute and the Good Taste Company. The company has not indicated which markets might be prioritised for brand transactions.
Meanwhile, the company also announced that Berkshire Hathaway will no longer hold its seats on the Heinz board, consistent with its other non-controlled investments.
As a result, Timothy Kenesey and Alicia Knapp have stepped down from the Heinz board due to their relationship with Berkshire Hathaway as executives, reducing the board size to 10 members.
