Heinz


Heinz

Pittsburgh , PA
United States
Contact Phone
P: 1-800-255-5750
Website
http://www.heinz.com

Description

The H. J. Heinz Company, or Heinz, was an American food processing company with world headquarters in Pittsburgh, Pennsylvania. It was founded by Henry J. Heinz in 1869. The H. J. Heinz Company manufactures thousands of food products in plants on six continents, and markets these products in more than 200 countries and territories. The company claims to have 150 number-one or number two-brands worldwide. Heinz ranked first in ketchup in the US with a market share in excess of 50%; Ore-Ida label held 46% of the frozen-potato sector in 2003.Since 1896, the company has used its "57 Varieties" slogan; it was inspired by a sign advertising 21 styles of shoes, and Henry Heinz chose the number 57 even though the company manufactured more than 60 products at the time.On February 14, 2013, Heinz agreed to be purchased by Berkshire Hathaway and 3G Capital for $23 billion. On March 25, 2015, Kraft announced its merger with Heinz, arranged by Berkshire Hathaway and 3G Capital. The resulting Kraft Heinz Company is the fifth largest food company in the world. Berkshire Hathaway became a majority owner of Heinz on June 18, 2015. After exercising a warrant to acquire 46,195,652 shares of common stock for a total price of $461,956.52, Berkshire increased its stake to 52.5%. The companies completed the merger on July 2, 2015.History19th-century originsFounder Henry John Heinz began packing foodstuffs on a small scale at Sharpsburg, Pennsylvania, in 1869. There he founded Heinz Noble & Company with a friend, L. Clarence Noble, and began marketing horseradish. The first product in Heinz and Noble's new Anchor Brand (a name selected for its biblical meaning of hope) was Anna Heinz's recipe for horseradish, which Heinz manufactured in the basement of his father's former house.

Company Rating

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