food News Updates

Kraft Heinz CEO Steve Cahillane surprised investors last month when he announced he would instead invest $600 million on developing new products and lowering some prices. 

Nicolas Amaya will lead Kraft Heinz’s North American operations starting next week, replacing Pedro Navio, the company said in a statement

Kraft Heinz said Feb. 11 it's pausing its plans to split into two companies, with CEO Steve Cahillane saying  "many of our challenges are fixable and within our control.” 

The move comes less than one month after Richmond, Va.-based PFG and US Foods called off talks for a planned merger that would have reshaped the food service carrier arena.

Scott Ferguson, founder of Sachem Head Capital Management, is joining the Performance Food board as talks with US Foods continue.

The companies will evaluate regulatory issues and cost savings of a deal, according to a statement. The accord doesn’t assure a transaction will be proposed.

Following the breakup, one company will be made up of its Heinz Ketchup and other iconic condiments and boxed meals — a unit that currently generates $15.4 billion in sales.

The company is making structural changes to its teams across the U.S., interim CEO Ron Sargent said in a memo to staff on Aug. 26.

Last week, US Foods urged Performance Food to accept its invitation to explore a merger.

“Our ask of PFG is to simply work together to further understand the merits and opportunities of a potential combination,” US Foods CEO Dave Flitman said.