By Adriano Marchese

 

Kraft Heinz Co. said Wednesday it will combine its Canadian and U.S. businesses to create the North America Zone as part of its long-term growth plans.

The food company formed by the combination of Kraft Foods and Heinz said the merger will aim to leverage its scale through improved agility for competitive advantage. It is expected to help pilot high-value products, processes and service innovations, and increase speed-to-market.

The company said its U.S. and Canada businesses accounted for around 80% of net sales in 2020.

The new North America Zone will be headed by the company's current U.S. Zone president, Carlos Abrams-Rivera, while Canada Zone President Bruno Keller will take on the role of president of the company's Latin America region.

"In the last 12 months, Kraft Heinz has taken multiple steps to transform its overall growth profile, strategic focus, and financial flexibility, including divesting certain assets in its global cheese and nuts businesses," the company said.

Kraft Heinz expects to begin structural transitions early next year, with full organization and financial reporting changes expected at the start of its second fiscal quarter.

 

Write to Adriano Marchese at adriano.marchese@wsj.com

 

(END) Dow Jones Newswires

December 08, 2021 13:53 ET (18:53 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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