The Kraft Heinz Company has announced the successful completion of the merger between Kraft and Heinz.
The transaction creates the third-largest food and beverage company in North America and the fifth-largest food and beverage company in the world.
“The complementary nature of the two brand portfolios presents substantial opportunity for synergies, which will result in increased investments in marketing and innovation. This historic transaction unites two powerful businesses and iconic brands, and provides a platform for leadership in the food industry both domestically and internationally,” according to a company press release.
Effective as of the close of trading today, July 2, 2015, Kraft Foods Group, Inc. common shares will cease trading on the NASDAQ. The Kraft Heinz Company common shares will begin trading on the NASDAQ under the trading symbol KHC on Monday, July 6, 2015.
The Company’s immediate focus is on integrating the two businesses and establishing a new organizational structure, while delivering its financial objectives for 2015. The Heinz brand and business will remain headquartered in Pittsburgh and the Kraft brand and business will remain headquartered in the Chicago area.