42534
38900
S&P/TSX
15416.93
+6.20
+0.04%
S&P-CDNX
808.59
+8.73
+1.09%
S&P-500
2415.82
+0.75
+0.03%
NASDAQ
6210.19
+4.94
+0.08%
Dow
21080.28
-2.67
-0.01
Dollar
0.7428
-0.0009
-0.1210%
Oil
49.64
+0.74
+1.51%
Gold
1266.40
+10.00
+0.80%
Silver
17.265
+0.113
+0.659%


Kraft in talks to buy Unilever

U.S. food giant Kraft Heinz Co. confirmed that it's made an offer to buy Europe's Unilever and been rejected.

The company said Friday that talks are ongoing, but that no deal can be assured.

Kraft Heinz, maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese, said there's no certainty that it will even make another offer.

Unilever's brands include Hellmann's, Lipton and Knorr.

Kraft Heinz is itself the result of a recent buyout.

Two years ago, H.J. Heinz Co., owned by Warren Buffett's Berkshire Hathaway and Brazilian investment firm 3G Capital, announced a $45 billion takeover of Kraft Foods.

Companies like Kraft Heinz and Unilever are trying to catch up to rapidly changing consumer tastes as more people steer clear of processed foods. They are changing up the foods they offer and cutting costs.

Shares of Kraft Heinz rose sharply before the opening bell Friday.



More Business News

40888
Recent Trending
41875
Castanet Proud Member of RTNDA Canada
Press Room
39499