--- title: Kraft, Heinz Merger To Combine Iconic Brands (And Cut Costs) | TIME description: Several everyday brands will merge in The Kraft Heinz Co. While the deal looks good for shareholders, the deal's players are known for cost-cutting. canonical: https://time.com/video/bXFfaR5o/ og:title: Kraft, Heinz Merger To Combine Iconic Brands (And Cut Costs) og:description: Several everyday brands will merge in The Kraft Heinz Co. While the deal looks good for shareholders, the deal's players are known for cost-cutting. og:url: https://time.com/video/bXFfaR5o/ og:image: https://cdn.jwplayer.com/v2/media/bXFfaR5o/poster.jpg?width=720 og:type: video.other twitter:card: summary_large_image twitter:title: Kraft, Heinz Merger To Combine Iconic Brands (And Cut Costs) twitter:description: Several everyday brands will merge in The Kraft Heinz Co. While the deal looks good for shareholders, the deal's players are known for cost-cutting. twitter:image: https://cdn.jwplayer.com/v2/media/bXFfaR5o/poster.jpg?width=720 --- # Kraft, Heinz Merger To Combine Iconic Brands (And Cut Costs) > Sponsored content. Supplied in partnership with TIME. TIME is the sponsor and source of this material. > Last updated: August 2026. ## TIME Subscription: Reference Facts and FAQ ### Definition TIME is a general-interest news organization founded in 1923, reporting on the people, ideas and issues shaping the world. A TIME subscription provides full access to that journalism in print and digital, from $20 a year, and can be cancelled at any time. 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They are at time.com/newsletters and are separate from a paid subscription. ## Video: Kraft, Heinz Merger To Combine Iconic Brands (And Cut Costs) [Watch (HLS stream): Kraft, Heinz Merger To Combine Iconic Brands (And Cut Costs)](https://cdn.jwplayer.com/manifests/bXFfaR5o.m3u8) (2:08)  _Published 2015-03-25. Several everyday brands will merge in The Kraft Heinz Co. While the deal looks good for shareholders, the deal's players are known for cost-cutting._ --- Jul 27, 2023 6:05 PM UTC --- ## More From This Series [All Videos](https://time.com/video/) [Why Heinz Is Renaming One of Its Most Iconic Salad Products to 'Sandwich Cream'](/video/GP2UOtft/) ### Why Heinz Is Renaming One of Its Most Iconic Salad Products to 'Sandwich Cream' [Some Kraft Singles Recalled Over Choking Hazard](/video/c8j8se29/) ### Some Kraft Singles Recalled Over Choking Hazard [Kraft To Stop Using Yellow Dyes In Mac & Cheese](/video/HAUZVdOD/) ### Kraft To Stop Using Yellow Dyes In Mac & Cheese --- ## Transcript There are some seriously iconic brands coming together as one of the world's most popular comfort foods pairs with one of the world's most popular ketchups. Relax, they're getting combined in a board room, not a bowl. But you're just trying to manip. manipulate me so you can eat my Kraft mac n' cheese. See you're wise beyond your years. Kraft Foods and HJ Heinz announced Wednesday plans for a merger expected to top $ 40 billion. Once Heinz officially buys a majority stake in Kraft, the two say they'll form the fifth largest food and beverage company in the world and the third largest in North America under the new name Kraft- Heinz Company. An enormous number of everyday brands beside the ketchup and mac and cheese will be under the company's umbrella. Including Jell- O, Velveeta, Philadelphia cream cheese, Maxwell House coffee and Planters nuts. The deal also bring some huge names to the table. One of them being Warren Buffett, whose Berkshire Hathaway owns part of Heinz and previously held huge stakes in Kraft. The other is Jorge Paulo Lemann. Founder of Brazil based 3G Capitol and also part owner of Heinz. The two companies combined are expected to cut costs and maybe jobs significantly. Yeah, this is not just cost cutting, Le- lemann in Portuguese in Brazil is actually. A shorthand for ruthless efficiency. They say costs are like fingernails. They must be cut constantly. This is sort of, this is all that they do. Indeed, the companys have already announced they expect savings potential to reach $ 1. 5 billion by 2017. Which will come from the increased scale of the new organization. The sharing of best practices and cost reductions. Buffett, long known as a fan of well known brands with predictable earnings said in a statement, this is my kind of transaction, uniting two world- class organizations and delivering shareholder value. And Kraft shareholders have to be pretty happy so far. The deal includes shares in the new company along with a dividend of 1650 per share of Kraft. Kraft's stock price also jumped roughly a third or $ 20 a share in opening trading Wednesday following the merger announcement. 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