Industry News

CEO Miguel Patricio says Kraft Heinz plans to drive growth by trimming $2 billion in costs and 20% of its portfolio, starting with the $3.2 billion sale of cheese brands such as Cracker Barrel and Athenos to Lactalis while also winnowing product categories from more than 55 to the following six: taste elevation, easy meals made better, real food snacking, fast fresh meals, easy indulgent desserts and flavorful hydration. The revamp will also include increasing marketing by 30% and reinvigorating the Oscar Mayer brand with new packaging and cleaner ingredients.

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