Kraft Foods
Group, Inc. (NASDAQ: KRFT) shareholders today voted to approve the
previously announced merger agreement providing for the creation of The
Kraft Heinz Company. In a preliminary count of the voting results, more than
98 percent of votes cast at the special meeting voted in favor of the
transaction, representing more than 69 percent of all outstanding Kraft
shares, clearing the way for the merger to close after market close
tomorrow, July 2, 2015, subject to certain customary closing conditions.
The transaction will create the third-largest food and beverage company in
North America, and the fifth-largest food and beverage company in the world.
"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 Company and Managing Partner at 3G Capital.
"This truly is a historic moment for our two companies as we combine to
become a global food and beverage leader with an unparalleled portfolio of
great brands," said John T. Cahill, Kraft Foods Group Chairman and CEO and
future Vice Chairman of The Kraft Heinz Company. "It has been a privilege to
serve Kraft, and I look forward to continue serving The Kraft Heinz Company
on its board of directors."
The merger was announced on March 25, 2015 and received regulatory approvals
in the U.S. and Canada. The final voting results will be disclosed in a
Current Report on Form 8-K to be filed with the Securities and Exchange
Commission later today.
ABOUT HEINZ
H.J. Heinz Company, offering "Good Food Every Day"(TM), is one of the
world's leading marketers and producers of healthy, convenient and
affordable foods specializing in ketchup, sauces, meals, soups, snacks and
infant nutrition. Heinz provides superior quality, taste and nutrition for
all eating occasions whether in the home, restaurants, the office or
"on-the-go." Heinz is a global family of leading branded products, including
Heinz(R) Ketchup, sauces, soups, beans, pasta and infant foods (representing
over one third of Heinz's total sales), Ore-Ida(R) potato products, Weight
Watchers(R) Smart Ones(R) entrees, T.G.I. Friday's(R) snacks, and Plasmon
infant nutrition. Heinz is famous for its iconic brands on six continents,
showcased by Heinz(R) Ketchup, The World's Favorite Ketchup(R) . For more
information, visit www.heinz.com.
See more from Benzinga
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.