Announced today, the merger will create the fifth largest food and beverage company in the world, and the third largest in North America. The combined portfolio will include eight billion dollar brands, and five brands between $500m and $1bn.
Kraft is behind big brands like Maxwell House coffee, juice drink Capri Sun, Country Time Lemonade, flavoured drink mix Kool-Aid and Mio liquid water enhancers.
Heinz shareholders will take 51% ownership, while Kraft shareholders will have a 49% stake. Alex Behring, chairman of Heinz, will become chairman of The Kraft Heinz Company.
More information on the merger can be found here.