The new company, Kraft Heinz Co, will have roughly $28 billion of annual revenue from brands such as Oscar Mayer, Philadelphia, Velveeta, Maxwell House, Ore-Ida and Jell-O, as well as Kraft cheese and Heinz ketchup.
Berkshire Hathaway Inc and Brazilian investment firm 3G Capital, which together bought Heinz in 2013, own 51 percent of Kraft Heinz and control six of its 11 board seats, including one for Berkshire chairman Warren Buffett. Alex Behring, 3G's managing partner, is Kraft Heinz's chairman.
Most of Kraft Heinz's upper management comes from Heinz, including Chief Executive Bernardo Hees, 45, a 3G partner.
The 3G firm is known for keeping a close eye on expenses. It has said it may cut $1.5 billion of annual costs at Kraft Heinz by 2017.
