- Kraft Heinz (KHC, Financial) is actively evaluating strategic transactions aimed at unlocking shareholder value.
- Berkshire Hathaway has relinquished its board representation at Kraft Heinz, reducing the board size to 10 members.
- No timeline has been set for the completion of Kraft Heinz's strategic transaction evaluation process.
The Kraft Heinz Company (KHC) announced an ongoing evaluation of potential strategic transactions to enhance shareholder value. This initiative is part of the company's broader goal to provide high-quality, great-tasting food while driving long-term growth and value creation, as stated by CEO Carlos Abrams-Rivera.
In a related development, Berkshire Hathaway has informed Kraft Heinz of its decision to vacate its board seats, aligning with its policy on non-controlled investments. Consequently, board members Timothy Kenesey and Alicia Knapp have stepped down due to their affiliations with Berkshire Hathaway. This transition has reduced the board's size to 10 members.
Chair of the Board, Miguel Patricio, expressed gratitude for Kenesey and Knapp's contributions and reaffirmed the company's strong historical ties with Berkshire Hathaway. There is no indication that their departure resulted from disagreements regarding the company’s policies or practices.
Kraft Heinz remains committed to exploring strategic transactions but cautioned that there is no guarantee any such actions will be undertaken. The company has not established a deadline for this process and will update stakeholders as needed.
Kraft Heinz, with 2024 net sales of approximately $26 billion, continues to expand its iconic food and beverage brands on a global scale. The company emphasizes sustainability and ethical impact as part of its mission.
