The organization is now "the third-largest food and beverage company in North America, and the fifth-largest food and beverage company in the world," stated the release. The Kraft and Heinz brands are expected to create new synergies and marketing opportunities.
Bernardso Hees will serve as CEO of The Kraft Heinz Company, noted the release.
The transaction was completed on July 2, reported the release. The company began trading on the NASDAQ under the trading symbol KHC on July 6.
The organization will focus on creating a new structure, shared the release. Heinz’s headquarters will stay in Pittsburgh, while Kraft will remain in Chicago.
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