In 2015, Berkshire Hathaway CEO Warren Buffett helped orchestrate the Kraft Heinz mega merger. On Tuesday, Kraft Heinz announced that it is splitting into two companies, effectively undoing the monster deal Buffett helped put together a decade ago.
Berkshire Hathaway has a 27.5% stake in Kraft Heinz and is its largest shareholder, per CNBC. Buffett told CNBC’s Becky Quick on Tuesday that he is “disappointed.”
“Disappointed with them coming up with this idea, and disappointed that shareholders won’t be getting a vote,” Quick said, reiterating what Buffett had told her.
Related: Warren Buffett Made 95% of His Wealth After Age 65. Here’s How Much His Net Worth Has Grown Past Retirement Age.
Under the new contract, which is expected to close in 2026, one company will focus on shelf-stable meals, spreads, and sauces, and include brands like Heinz, Philadelphia cream cheese, and Kraft Mac & Cheese. The other will host Maxwell House, Oscar Mayer, Kraft Singles, and Lunchables, per the AP. Names for both are forthcoming.
Kraft Heinz shares have dropped nearly 70% since the merger in 2015, CNBC notes. Changing food tastes, a desire for healthier options with less preservatives, and more modern cooking methods have all been blamed for the decline.
In 2019, Buffett said he was “wrong in a couple of ways on Kraft Heinz,” per Reuters.
Buffett is stepping down as CEO of Berkshire Hathaway effective January 1, 2026.
Related: ‘It Was Unfair’: Warren Buffett Reveals the Real Reason He Stepped Down as CEO
In 2015, Berkshire Hathaway CEO Warren Buffett helped orchestrate the Kraft Heinz mega merger. On Tuesday, Kraft Heinz announced that it is splitting into two companies, effectively undoing the monster deal Buffett helped put together a decade ago.
Berkshire Hathaway has a 27.5% stake in Kraft Heinz and is its largest shareholder, per CNBC. Buffett told CNBC’s Becky Quick on Tuesday that he is “disappointed.”
“Disappointed with them coming up with this idea, and disappointed that shareholders won’t be getting a vote,” Quick said, reiterating what Buffett had told her.
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