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Mac & Cheese & Ketchup: Kraft and Heinz Are Merging

Mac & Cheese & Ketchup: Kraft and Heinz Are Merging WochitBusiness Kraft Foods Group Inc, the maker of Velveeta cheese and Oscar Mayer meats, will merge with ketchup maker H.J. Heinz Co, owned by 3G Capital and Berkshire Hathaway Inc, to form the world's fifth-largest food and beverage company. Kraft's shares rose about 17 percent in premarket trading after the announcement of the deal, which will bring Heinz back to the public market following its takeover two years ago. The companies said in a statement on Wednesday, the combined company will have revenue of about $28 billion.

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