Kraft Heinz to Create North America Zone from Canada, U.S. Businesses Merger
December 08 2021 - 2:08PM
Dow Jones News
By Adriano Marchese
Kraft Heinz Co. said Wednesday it will combine its Canadian and
U.S. businesses to create the North America Zone as part of its
long-term growth plans.
The food company formed by the combination of Kraft Foods and
Heinz said the merger will aim to leverage its scale through
improved agility for competitive advantage. It is expected to help
pilot high-value products, processes and service innovations, and
increase speed-to-market.
The company said its U.S. and Canada businesses accounted for
around 80% of net sales in 2020.
The new North America Zone will be headed by the company's
current U.S. Zone president, Carlos Abrams-Rivera, while Canada
Zone President Bruno Keller will take on the role of president of
the company's Latin America region.
"In the last 12 months, Kraft Heinz has taken multiple steps to
transform its overall growth profile, strategic focus, and
financial flexibility, including divesting certain assets in its
global cheese and nuts businesses," the company said.
Kraft Heinz expects to begin structural transitions early next
year, with full organization and financial reporting changes
expected at the start of its second fiscal quarter.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
December 08, 2021 13:53 ET (18:53 GMT)
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