The Traderszone Network

Published in TZ Latest News 10 August, 2015 by The TZ Newswire Staff

Kraft and Heinz sales fall in final quarter before merger

Kraft Heinz shares declined 2.3 percent to $77.00 in after-hours trading. Sales at Kraft fell due to weak demand for its beverages, a result of fewer promotions versus the year-earlier period, while the strong dollar hurt sales at Heinz. Heinz, backed by Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) and Brazilian private equity firm 3G Capital, combined with Kraft Foods Group to create the third-largest North American food company.