The Kraft Heinz Company revealed the next step in its turnaround: an operating model centered on five pillars that cuts costs by $2 billion, increases marketing spend by 30%, and sells off some of its cheese businesses.
The No. 1 consumer goods company will acquire Aimmune Therapeutics, a biopharmaceutical company developing and commercializing treatments for food allergies, in a deal valued at $2.6 billion.
The completed transaction introduces Utz as a publicly listed company on the New York Stock Exchange after nearly 100 years as a family-owned business.