PITTSBURGH and NORTHFIELD, Ill., July
1, 2015 /PRNewswire/ -- Kraft Foods Group, Inc.
(NASDAQ: KRFT) shareholders today voted to approve the previously
announced merger agreement providing for the creation of The Kraft
Heinz Company. In a preliminary count of the voting results, more
than 98 percent of votes cast at the special meeting voted in favor
of the transaction, representing more than 69 percent of all
outstanding Kraft shares, clearing the way for the merger to close
after market close tomorrow, July 2,
2015, subject to certain customary closing conditions.
The transaction will create the third-largest food and beverage
company in North America, and the
fifth-largest food and beverage company in the world.
"Today's approval to create The Kraft Heinz Company will unite
two powerful businesses, deliver incredible shareholder value, and
provide a platform for growth both domestically and
internationally," said Alex Behring,
future Chairman of The Kraft Heinz Company and Managing Partner at
3G Capital.
"This truly is a historic moment for our two companies as we
combine to become a global food and beverage leader with an
unparalleled portfolio of great brands," said John T. Cahill, Kraft Foods Group Chairman and
CEO and future Vice Chairman of The Kraft Heinz Company. "It has
been a privilege to serve Kraft, and I look forward to continue
serving The Kraft Heinz Company on its board of directors."
The merger was announced on March 25,
2015 and received regulatory approvals in the U.S. and
Canada. The final voting results
will be disclosed in a Current Report on Form 8-K to be filed with
the Securities and Exchange Commission later today.
ABOUT HEINZ
H.J. Heinz Company, offering "Good Food
Every Day"™, is one of the world's leading marketers and producers
of healthy, convenient and affordable foods specializing in
ketchup, sauces, meals, soups, snacks and infant nutrition. Heinz
provides superior quality, taste and nutrition for all eating
occasions whether in the home, restaurants, the office or
"on-the-go." Heinz is a global family of leading branded products,
including Heinz® Ketchup, sauces, soups, beans, pasta
and infant foods (representing over one third of Heinz's total
sales), Ore-Ida® potato products, Weight
Watchers® Smart Ones® entrees, T.G.I. Friday's® snacks, and Plasmon
infant nutrition. Heinz is famous for its iconic brands on six
continents, showcased by Heinz® Ketchup, The World's
Favorite Ketchup®. For more information, visit
www.heinz.com.
ABOUT KRAFT FOODS GROUP
Kraft Foods Group, Inc.
(NASDAQ: KRFT) is one of North
America's largest consumer packaged food and beverage
companies, with annual revenues of more than $18 billion. The company's iconic brands
include Kraft, Capri Sun, Jell-O,
Kool-Aid, Lunchables, Maxwell House,
Oscar Mayer, Philadelphia, Planters and
Velveeta. Kraft's 22,000 employees in the U.S. and
Canada have a passion for making
the foods and beverages people love. Kraft is a member of the
Standard & Poor's 500 and the NASDAQ-100 indices. For more
information, visit www.kraftfoodsgroup.com and
www.facebook.com/kraft.
FORWARD-LOOKING STATEMENTS
Certain of the matters
discussed in this communication constitute "forward-looking
statements" within the meaning of the Securities Act of 1933 and
the Securities Exchange Act of 1934, both as amended by the Private
Securities Litigation Reform Act of 1995. Words such as "will,"
"look," "provide," "deliver" or the negative of such terms or other
variations thereof and words and terms of similar substance used in
connection with any discussion of future plans, actions, or events
identify forward-looking statements. These forward-looking
statements include, but are not limited to, statements regarding
the proposed merger.
There are a number of risks and uncertainties that could cause
actual results to differ materially from the forward-looking
statements included in this communication. For example, the
expected timing and likelihood of completion of the proposed
merger, including, the ability to successfully integrate the
businesses, the occurrence of any event, change or other
circumstances that could give rise to the termination of the merger
agreement, the risk that the parties may not be able to satisfy the
conditions to the proposed transaction in a timely manner or at
all, risks related to disruption of management time from ongoing
business operations due to the proposed transaction, the risk that
any announcements relating to the proposed transaction could have
adverse effects on the market price of Kraft's common stock, and
the risk that the proposed transaction and its announcement could
have an adverse effect on the ability of Kraft and Heinz to retain
customers and retain and hire key personnel and maintain
relationships with their suppliers and customers and on their
operating results and businesses generally, problems may arise in
successfully integrating the businesses of the companies, which may
result in the combined company not operating as effectively and
efficiently as expected, the combined company may be unable to
achieve cost-cutting synergies or it may take longer than expected
to achieve those synergies, and other factors. All such factors are
difficult to predict and are beyond our control. We disclaim and do
not undertake any obligation to update or revise any
forward-looking statement in this communication, except as required
by applicable law or regulation.
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SOURCE Kraft Foods Group
