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Kraft shareholders approve merger with Heinz

Kraft shareholders approve merger with Heinz

Kraft Foods Group announced that its shareholders voted to approve its merger with the H.J. Heinz Co.

The new company would be called The Kraft Heinz Co., and the deal is expected to close after market on July 2. According to Kraft and Heinz, the merger would make the company the third largest global food and beverage supplier.

“Today's approval to create The Kraft Heinz Company will unite two powerful businesses, deliver incredible shareholder value, and provide a platform for growth both domestically and internationally,” said Alex Behring, future chairman of The Kraft Heinz Co. and managing partner at 3G Capital.

Earlier this week, the companies announced The Kraft Heinz Company’s senior leadership team, including:

  • George Zoghbi was appointed as COO of U.S. commercial business. A new Canada “zone” will be led by Bernardo Hees, with a new president for Canada announced later this summer.
  • Paulo Basilio was appointed EVP and CFO.
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