History of Kraft Heinz in Timeline

Kraft Heinz is a multinational food company created by the merger of Kraft Foods Group and H.J. Heinz. It's the third-largest food and beverage company in North America and fifth-largest globally, reporting over $26 billion in annual sales as of 2021. Kraft Heinz focuses on grocery and food processing brands after its sister company, Mondelez International, was split from Kraft Foods Inc. and retained snack brands. The company's portfolio includes well-known brands like Kraft, Heinz, Oscar Mayer, and Philadelphia Cream Cheese. In 2018, Kraft Heinz ranked 114th on the Fortune 500 list.

2001: Heinz Acquired Naming Rights to Heinz Field

Heinz initially acquired the naming rights to Heinz Field in 2001.

2012: Mondelez International Split

In 2012, Mondelez International was split from Kraft Foods Inc., prior to Kraft's merger with Heinz. Mondelez holds the old Kraft Foods' snack brands.

2014: Just Spices GmbH Launched

Just Spices GmbH was launched in 2014.

July 2, 2015: Kraft Foods and H.J. Heinz Merger Completion

On July 2, 2015, the merger between Kraft Foods and H.J. Heinz was completed, creating The Kraft Heinz Company, which became the world's fifth-largest food and beverage company.

2015: Kraft Heinz forced to restate its financial results

Due to an improper claim of $200 million in cost savings, Kraft Heinz was forced to restate its financial results for the years 2015 through 2018.

2015: Kraft Heinz Merger

In 2015, the Kraft Heinz merger did not immediately affect the naming rights to Heinz Field.

February 17, 2017: Kraft Heinz Approach to Take Over Unilever

On February 17, 2017, Kraft Heinz Co. made a $143 billion approach to take over Unilever, but Unilever declined the initial proposal.

October 19, 2017: Kraft Heinz Acquires Cerebos Pacific

On October 19, 2017, Kraft Heinz announced it was acquiring Cerebos Pacific, including the Saxa salt, Gregg's, and Bisto brands, from Suntory.

2017: Kraft Heinz Fiscal Year 2017 Earnings

For the fiscal year 2017, Kraft Heinz reported earnings of US$11.0 billion, with annual revenue of US$26.2 billion.

2017: Kraft Heinz Committed to Chicken Welfare Improvements

In 2017, Kraft Heinz made commitments to improve the welfare of broiler chickens in their supply chains by 2024.

2017: Kraft Heinz Fortune 500 Revenue

In 2017, Kraft Heinz's total revenue was used to rank their placement on the Fortune 500 list.

2017: Kraft Parmesan Cheese Label Lawsuit

In 2017, the claim that the Kraft Parmesan Cheese label was misleading was rejected by judges, based on the understanding that consumers know dairy products require preservatives.

2017: Paulo Basilio CFO tenure

Kraft Heinz announced that Paulo Basilio held the position of CFO until 2017.

March 9, 2018: New Zealand Commerce Commission Approves Cerebos Pacific Purchase

On March 9, 2018, New Zealand's Commerce Commission approved the purchase of Cerebos Pacific by Kraft Heinz, on the condition that Kraft Heinz sell the licenses for Gregg's brand of sauces and the F. Whitlock Worcestershire sauce brand due to competition concerns.

May 2018: Kraft Heinz Launches Springboard Brands

In May 2018, Kraft Heinz launched Springboard Brands, a business focused on growing organic, natural, and "super-premium" food brands.

September 2018: Kraft Heinz Market Capitalization

In September 2018, Kraft Heinz's market capitalization was valued at over US$136 billion, with shares trading at over $61 per share.

October 24, 2018: Kraft Heinz to Sell Indian Nutritional Beverage Assets

On October 24, 2018, Kraft Heinz announced that it was selling its Indian nutritional beverage assets, including Complan and energy drink Glucon-D to Zydus Wellness.

2018: Kraft Heinz forced to restate its financial results

Due to an improper claim of $200 million in cost savings, Kraft Heinz was forced to restate its financial results for the years 2015 through 2018.

2018: Kraft Heinz Fortune 500 Ranking

In 2018, Kraft Heinz ranked 114th in the Fortune 500 list of the largest United States corporations, based on 2017 total revenue.

January 30, 2019: Kraft Heinz Completes Sale of Indian Nutritional Beverage Assets

On January 30, 2019, Kraft Heinz completed the sale of its Indian nutritional beverage assets, including Complan and the energy drink Glucon-D, to Zydus Wellness.

February 2019: Kraft Heinz Shares Fall to Record Low

In February 2019, shares in Kraft Heinz fell to a record low after the company reported a $10.2 billion loss for the previous year. The company announced a $15.4 billion writedown of its Kraft and Oscar Mayer brands.

February 21, 2019: Kraft Heinz Reports SEC Subpoena and Dividend Cut

On February 21, 2019, Kraft Heinz reported receiving a Securities and Exchange Commission (SEC) subpoena in October to investigate accounting policies. They also announced a dividend cut and a $15.4 billion write-down of the Kraft and Oscar Mayer brands, leading to a stock crash.

April 2019: Miguel Patricio Announced as New CEO

In April 2019, it was announced that Miguel Patricio would replace Bernardo Hees as CEO of Kraft Heinz.

June 2019: Kraft Heinz Achieves Corporate Equality Index Score

In June 2019, Kraft Heinz achieved a 100 percent Corporate Equality Index score from the Human Rights Campaign, recognizing its LGBTQ inclusion efforts.

June 2019: Miguel Patricio Takes Position of CEO

In late June 2019, Miguel Patricio took the position of CEO at Kraft Heinz, with Alex Behring remaining as chairman. Paulo Basilio returned as Chief Financial Officer, and Corrado Azzarita became Chief Information Officer. Todd Kaplan was named chief marketing officer of North America at Kraft Heinz.

July 2, 2019: Kraft Heinz Sells Canadian Natural Cheese Business

On July 2, 2019, Kraft Heinz sold its Canadian natural cheese business, including the Cracker Barrel, P’tit Quebec, and aMOOza! brands, to Parmalat for C$1.62 billion.

August 2019: Kraft Heinz Announces Further Writedowns and CFO Change

In August 2019, Kraft Heinz announced a further $1.22 billion in writedowns and the return of its former CFO, Paulo Basilio, to replace David Knopf.

2019: Kraft Heinz Pledges to Comply with European Chicken Commitment

In 2019, Kraft Heinz made an updated pledge to comply with the European Chicken Commitment by 2026 for 100% of the chickens in its supply chain.

2019: Kraft Heinz Acquires Primal Kitchen

In early 2019, Kraft Heinz completed the $200 million deal to acquire the Primal Kitchen brand as part of the company's Springboard Incubator, and the deal was expected to generate $50 million in new annual revenue.

September 15, 2020: Kraft Heinz Announces Strategic Transformation Plan

On September 15, 2020, Kraft Heinz announced its new Strategic Transformation Plan, including a new company purpose, "Let's Make Life Delicious" and an all-new vision, "To sustainably grow by delighting more consumers globally."

September 2020: Kraft Heinz Announces New Enterprise Strategy

In September 2020, Kraft Heinz announced its new enterprise strategy, including plans to cut $2 billion in costs over five years, and stock upgrades by CFRA and Guggenheim followed.

September 2020: Kraft Heinz to Sell Cheese Business to Lactalis

In September 2020, Kraft Heinz reached a deal to sell part of its cheese business to Lactalis for $3.2 billion, including the Breakstone's, Knudsen, Polly-O, Athenos, Hoffman's, and Cracker Barrel cheese brands for the United States, and Cheez Whiz outside of North America. Kraft Heinz then partnered with Lactalis to manufacture Kraft and Velveeta cheeses.

2020: Kraft Heinz Q4 results announced

In 2020, Kraft Heinz announced its Q4 and full-year results, showing a 6.2 percent increase in sales and over $26 billion in revenue.

February 11, 2021: Kraft Heinz Announces Q4 2020 and Full-Year Results

On February 11, 2021, Kraft Heinz announced its Q4 2020 and full-year results, showing a 6.2 percent increase in sales and over $26 billion in revenue. They also announced plans to sell its nuts business, including the Planters brand, to Hormel for $3.35 billion.

March 9, 2021: Kraft Heinz to Sell Refrigerated Colliders Desserts

On March 9, 2021, Kraft Heinz announced an agreement with The Hershey Company to sell refrigerated Colliders desserts under Hershey's respective brands.

September 2021: Kraft Heinz Acquires Hemmer

In September 2021, Kraft Heinz announced that it was acquiring Hemmer, a Brazilian company focused on condiments and sauces, for an undisclosed amount, following a recent agreement to purchase Assan Foods, a Turkish company focused on sauces.

September 2021: Kraft Heinz Fined in SEC Probe

In September 2021, Kraft Heinz was fined $62m to settle the U.S. Securities and Exchange Commission probe into an improper claim of $200m in cost savings, which forced the company to restate its financial results for the years 2015 through 2018.

November 10, 2021: U.S. Justice Department Approves Kraft Heinz Acquisition

On November 10, 2021, the U.S. Justice Department approved Kraft Heinz's acquisition of the cheese business with Lactalis, conditional on divesting Athenos and Polly-O businesses.

2021: Kraft Heinz Annual Sales

In 2021, Kraft Heinz had over $26.0 billion in annual sales, making it the third-largest food and beverage company in North America and the fifth-largest worldwide.

2021: Kraft Heinz Animal Welfare Rating

In 2021, the BBFAW gave Kraft Heinz a rating indicating established animal welfare practices with room to grow; 70% of chickens in the supply chain were cage-free or free-range.

2021: Proposed Deal for Just Spices

The proposed deal between Kraft Heinz and Just Spices was first announced on December 10, 2021.

January 19, 2022: Kraft Heinz Acquires Stake in Just Spices GmbH

On January 19, 2022, Kraft Heinz announced that it had completed its acquisition of an 85% stake in Germany-based Just Spices GmbH.

July 2022: Heinz Field Naming Rights Not Renewed

In July 2022, reports indicated that Kraft Heinz did not renew the naming rights for Heinz Field in Pittsburgh, which the company initially acquired in 2001.

May 18, 2023: Kraft Heinz Partners with IHOP for Coffee Sales

On May 18, 2023, Kraft Heinz announced a new partnership with IHOP to sell IHOP-branded coffee at grocery stores nationwide.

December 1, 2023: Kraft Heinz Wins Egg Price Fixing Lawsuit

On December 1, 2023, Kraft Heinz and other food companies won a $17.8 million lawsuit against Cal-Maine Foods, Inc. over allegations of egg price fixing.

2023: Kraft Heinz Global Brands Portfolio

As of 2023, this entry refers to a partial list of global brands included in the Kraft Heinz portfolio.

July 23, 2024: Kraft Heinz and IHOP Expand Partnership to Pancake Syrups

On July 23, 2024, the partnership between Kraft Heinz and IHOP was expanded to include the sale of pancake syrups.

2024: Kraft Heinz Commitment to Chicken Welfare

In 2017, Kraft Heinz committed to making a number of improvements to the welfare of broiler chickens in their supply chains by 2024.

June 2025: Kraft Heinz to Eliminate Artificial Colors

In June 2025, Kraft Heinz announced its intention to eliminate artificial food, drug, and cosmetic colors from all U.S. products by the end of 2027, starting immediately with new items.

2025: Kraft Heinz Goal for Packaging

Kraft Heinz plans to make 100% of its product packaging recyclable, reusable, or compostable by 2025, and sustainably source 100 percent of Heinz Ketchup tomatoes by 2025.