GFM Network News



Parmalat’s play for Kraft cheeses clears regulators

Dairy giant Parmalat’s proposed $1.62 billion deal for Kraft Heinz’s “natural” cheese business in Canada has cleared federal antitrust regulators. The federal Competition Bureau on Thursday said it issued a “no action letter” to the two companies and would put up a position statement detailing its reasons in the “coming days.” The deal is expected […] Read more


Kraft walks away from ‘friendly’ bid for Unilever

New York | Reuters –– U.S. food company Kraft Heinz withdrew its proposal for a US$143 billion merger with larger rival Unilever, the companies said Sunday, raising questions about whether Kraft will turn its focus to another target. Kraft had made a surprise offer for Unilever to build a global consumer goods behemoth — an […] Read more




Kraft Heinz to cut 2,500 jobs in Canada, U.S.

Reuters — Kraft Heinz Co. said it will eliminate 2,500 jobs in the U.S. and Canada, including about 700 at its Chicago-area headquarters. Heinz, backed by Warren Buffett’s Berkshire Hathaway and Brazilian private equity firm 3G Capital — known as an aggressive cost-cutter — combined with Kraft in March in a $46 billion deal that […] Read more


Canadian, U.S. regulators clear Heinz and Kraft merger

Antitrust regulators in both Canada and the U.S. have fixed their seals of official inaction on ketchup giant H.J. Heinz’s play for control of Kraft Foods Group. Canada’s Competition Bureau has confirmed that it wrapped its review of the proposed deal and issued its “no action” letter to the companies on Wednesday. A “no action” […] Read more



U.S. CFTC sues Kraft, Mondelez over alleged wheat price manipulation

Reuters — The U.S. Commodity Futures Trading Commission on Wednesday charged Kraft Foods Group and Mondelez International with manipulation of prices of wheat used in products such as Oreo and Chips Ahoy cookies. The regulator alleged that Kraft and Mondelez bought $90 million of wheat futures, or a six-month supply, but never intended to take […] Read more

Kraft to combine with Heinz in deal led by 3G, Buffett

Reuters — Ketchup maker H.J. Heinz, owned by 3G Capital and Warren Buffett’s Berkshire Hathaway, is acquiring a majority stake in Kraft Foods Group to create the third-largest North American food company, executives said on Wednesday. Shares of Kraft — which operates 35 plants in Canada, the U.S. and Puerto Rico — were up more […] Read more