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The grocery game, already led by a handful of corporations with sprawling brand portfolios, is about to get a beefier new player.
Kraft Foods and Heinz announced today they will merge to form The Kraft Heinz Company, with an estimated $28 billion in annual revenue and eight $1 billion brands.
Backed by a $10 billion investment from Warren Buffett's Berkshire Hathaway and 3G Capital, the merger will pay out a $16.50 per share cash dividend to Kraft shareholders.
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