nytimes.com - NEW YORK — H.J. Heinz Co. is buying Kraft Foods, creating one of the largest food and beverage companies in the world with annual revenue of about $28 billion.
The Kraft Heinz Co. will own Kraft, Heinz, Oscar Mayer, Ore-Ida and large stable of other brands. Eight of those brands have annual sales of $1 billion or more and five others log sales between $500 million and $1 billon every year.
The deal to bring together the two companies, each more than a century old, was engineered by Warren Buffett's Berkshire Hathaway and Brazilian investment firm 3G Capital.
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