KHC - Kraft Heinz Is Serious About Mending Its Balance Sheet. What Investors Should Know
2023-04-28 10:23:00 ET
In a 2015 deal backed by Warren Buffett's Berkshire Hathaway , Heinz bought Kraft to create Kraft Heinz (NASDAQ: KHC) . It was a huge step in the consumer staples space, driven by the notion that cost savings could help these old industry giants become more profitable.
But investors focused on that have missed the equally -- if not more -- important changes that have taken shape on the balance sheet. Now, Kraft Heinz is looking to make some improvements on that front.
In 2013, Berkshire Hathaway paired up with 3G Capital to buy a controlling stake in iconic food maker Heinz. 3G Capital has a history of buying older companies with dominant brands and instituting cost cutting to improve profitability.
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Kraft Heinz Is Serious About Mending Its Balance Sheet. What Investors Should Know