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The Kraft Heinz Company announced key leadership changes effective March 2, 2022.
The Kraft Heinz Company (Nasdaq: KHC) has acquired an 85% stake in Just Spices GmbH, a German startup focused on innovative spice blends, for approximately €60 million in sales. The founders retain 15% ownership and will continue leading the company. This acquisition is part of Kraft Heinz's strategy to enhance its position in the taste elevation market, expanding beyond Germany to Spain, Austria, and Switzerland. The deal aligns with Kraft Heinz's goal to become a leader in the taste elevation category globally.
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The Kraft Heinz Company (Nasdaq: KHC) will announce its fourth quarter and full year 2021 financial results on February 16, 2022, with a pre-recorded discussion available before market opening. A live Q&A session will start at 9:00 a.m. EST. Interested parties can access the earnings release and Q&A audio through ir.kraftheinzcompany.com. Additionally, CEO Miguel Patricio will present at the CAGNY Conference on February 22, 2022, at 11:30 a.m. EST, with a replay available on the same site.
The Kraft Heinz Company (KHC) has appointed Dafne Hefner as the Chief Strategy & Transformation Officer for the North America Zone, effective January 18, 2022. Hefner, previously with Anheuser-Busch InBev, will accelerate Kraft Heinz's growth strategy focusing on digital initiatives and Agile team deployment. The company has been transforming its operations since 2020, emphasizing a consumer-first approach and restructuring its U.S. and Canada businesses into a North America Zone for improved operational efficiency. This transition marks a significant strategic step for the company.
The Kraft Heinz Company (Nasdaq: KHC) has pledged to halve its greenhouse gas emissions by 2030 and achieve net zero emissions by 2050. This commitment includes reducing Scope 1, Scope 2, and Scope 3 emissions, with approximately 95% of total emissions coming from Scope 3. Key initiatives involve sustainable agricultural practices, transitioning to renewable energy, and enhancing recyclable consumer packaging. Kraft Heinz aims to share detailed science-based targets in 2023, reinforcing its responsibility to address climate change while continuing to report annually on its emissions footprint.
The Kraft Heinz Company (KHC) has announced an agreement to acquire an 85% stake in Just Spices GmbH, a Germany-based start-up specializing in innovative spice blends, for an undisclosed sum. Just Spices, founded in 2014, recorded annual sales of approximately €60 million and has a strong direct-to-consumer model. This acquisition aims to bolster Kraft Heinz's international growth strategy by enhancing its product innovation and expanding market reach. The deal is anticipated to close in Q1 2022, pending regulatory approvals.
The Kraft Heinz Company (NASDAQ: KHC) announced a strategic restructuring to form a new North America Zone, combining its U.S. and Canada businesses. This change, effective in Q2 2022, aims to enhance agility and streamline operations. Key appointments include Carlos Abrams-Rivera as President of the new zone and Robert Scott as President of Research and Development. The restructuring supports Kraft Heinz's long-term growth plans, leveraging its significant U.S. and Canadian market share, which accounted for about 80% of its 2020 net sales.
The Kraft Heinz Company (KHC) announced its tender offer to purchase up to $2.0 billion of its outstanding senior notes. The offer includes various series of notes with different maturity dates. As of the early tender time on December 2, 2021, the tendered amount exceeded the maximum, leading to a proration of the accepted notes. Settlement for the accepted notes is scheduled for December 6, 2021. The offer will remain open until December 16, 2021, unless extended. Citigroup, Morgan Stanley, and RBC Capital Markets are acting as lead dealer managers for this transaction.
The Kraft Heinz Company (KHC) announced early tender results for its cash tender offer, aiming to purchase up to $2 billion in various senior notes, including those due in June 2022, January 2029, and beyond. The early tender submission deadline was December 2, 2021, and an early settlement date for accepted notes is set for December 6, 2021. The financing condition for the offer has been met, and the tender offer will expire on December 16, 2021, unless extended. The company plans to accept notes based on specified acceptance priority levels.
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