Today it was announced that Heinz and Kraft have merged to produce one giant food company, The Kraft-Heinz Company. (Is anyone else bummed they didn’t choose a new name, like “Kreinz”?) This merger makes Kraft-Heinz the 5th largest food company on Earth (whoa!) and the 3rd largest in North America, behind Pepsico, Inc. and Tyson Foods, Inc.
The financial Wizard behind this historic merger is Warren Buffet of Berkshire Hathaway (also known as the Oracle of Omaha). While Buffet has had an incredibly successful investing career (he's worth over $70 Billion), Forbes points out that this is the biggest stock deal of his career. The market has reacted well to the merger — CNN Money reports that “Kraft shares surged more than 33%” today.
Honestly, the financial stuff is interesting but takes a backseat to the really exciting stuff. That's right: What kind of food combos will come out of this merger! Will there be Heinz ketchup-flavored powder in Kraft Mac & Cheese boxes now? Will they make chocolate Bagel Bites with Miracle Whip in the middle to produce a new kind of mutant Oreo? The (totally gross) possibilities are endless...