Kraft Heinz has headquarters in Pittsburgh and Chicago. It is one of the largest food and beverage companies in the world, with 2020 sales of $26.2 billion. Its leading brands include Heinz, Kraft, Oscar Mayer, Philadelphia, Velveeta, Lunchables, Maxwell House, Capri Sun, Ore-Ida, Kool-Aid, Cool Whip, and Jell-O. The company was formed through the merger of Kraft Foods and H.J. Heinz on July 2, 2015. (Heinz was previously owned by Berkshire Hathaway and 3G Global Food Holdings LP.) Berkshire Hathaway has a 27% stake in the company and maintains three board seats. The company's fiscal year ends on the last Saturday of December. In 2020, KHC announced a plan to sell Planters and the nut business. Kraft Heinz had three geographic segments in 2020: the United States (73% of 2020 net sales); Canada (7%); International (20%). By product category, Condiments represent 26% of sales, Cheese and dairy 20%, Ambient foods 10%, Frozen foods, 9% and Meats 10%. (Ambient food is food that would normally be refrigerated, but that has been processed so that it can be stored at room temperature.) We will update this after we review the Annual Report.
Chris Graja, CFASenior Analyst: Retail