KHC
Updated: 25/09/2026, 12:56:59
The Kraft Heinz Company, along with its subsidiaries, operates as a global entity focused on the manufacturing and marketing of a broad spectrum of food and beverage products. Its reach extends across key markets such as the United States, Canada, and the United Kingdom, as well as numerous other international territories. The company's diverse product offerings include popular condiments and sauces, a variety of cheese and dairy items, prepared meals, meat products, and refreshing beverages. Additionally, its portfolio features coffee, an assortment of healthy snacks, salad dressings, various spices and seasonings, and a range of other general grocery staples. Kraft Heinz employs a multi-faceted distribution strategy. It utilizes its internal sales organizations alongside independent brokers, agents, and third-party distributors to reach a wide array of customers. These include large grocery chains, wholesale providers, cooperative and independent grocers, convenience stores, pharmacies, value stores, bakeries, mass merchandisers, and club stores. Furthermore, the company supplies products to the foodservice sector and institutional clients, such as hotels, restaurants, hospitals, healthcare facilities, and government agencies. A significant portion of its sales also occurs online through various e-commerce platforms and digital retailers. Tracing its origins back to its founding in 1869, the company initially operated as H.J. Heinz Holding Corporation before officially changing its name to The Kraft Heinz Company in July 2015. Its corporate headquarters are located in Pittsburgh, Pennsylvania.
No summaries found.
Reported and calculated KPIs plus operational exposure disclosed in the FY 2025 filing.
Revenue
N/A
FY — · Reported
Net income
$-5.8B
FY 2025 · Reported
Gross margin
N/A
FY — · Reported
Free cash flow
$3.7B
FY 2025 · Calculated
R&D intensity
N/A
FY — · Reported
Share repurchases
$0.4B
FY 2025 · Reported
Other offerings mentioned without separate sales
Area-level product sales are displayed only when the filing reports a product × geography breakdown. Regional totals are not allocated across products by estimation.
Map layer
Pins show disclosed operations. The heatmap colors the filing’s reported geographies; regional figures shade the region and are not estimates for each country.
Only locations and quantities explicitly supported by the filing are displayed. A country-level manufacturing percentage or product allocation is shown only when the source discloses it; materiality scores are never presented as production shares.
Company overview
Global food & beverage company; 2025 net sales ~$25B; created via 2015 Kraft-Heinz merger
“With 2025 net sales of approximately $25 billion, we are committed to growing our iconic and emerging food and beverage brands on a global scale.”
Operating and reportable segments
4 operating segments; 2 reportable segments (North America, International Developed Markets) plus Emerging Markets
“We have two reportable segments defined by geographic region: North America and International Developed Markets. Our remaining operating segments, consisting of WEEM and AEM, are combined and disclosed as Emerging Markets.”
Sales and distribution channels
Broad channels: grocery, convenience/club, drug, mass merchants, foodservice, institutions, e-commerce
“Our products are sold through our own sales organizations and through independent brokers, agents, and distributors to chain, wholesale, cooperative, and independent grocery accounts; convenience, value, and club stores; pharmacies and drug stores; mass merchants; foodservice distributors; and institutions”
Eight consumer-driven product platforms
Eight platforms: Taste Elevation, Easy Ready Meals, Substantial Snacking, Desserts, Hydration, Cheese, Coffee, Meats
“includes the following for Kraft Heinz: Taste Elevation, Easy Ready Meals, Substantial Snacking, Desserts, Hydration, Cheese, Coffee and Meats.”
Net sales by product platform (% of consolidated net sales)
Taste Elevation 45%/44%/44%; Easy Ready Meals 17%/17%/17%; Substantial Snacking 6%; Desserts 5%/4%/4%; Hydration 8%/9%/9%; Cheese 7%; Coffee 3%; Meats 8%; Other 1%/2%/2% (2025/2024/2023)
“ACCELERATE Taste Elevation45 %44 %44 % Easy Ready Meals17 %17 %17 % Substantial Snacking6 %6 %6 %”
Key commodities and packaging inputs
Dairy, meat, sugar, coffee, tomato, oils, eggs, produce, wheat; plastic/resin/cardboard/glass/paper/metal packaging; electricity/diesel/natural gas
“We purchase and use large quantities of commodities, including dairy products, meat products, sugar and other sweeteners, coffee, tomato products, soybean and vegetable oils, eggs, other fruits and vegetables, and wheat and processed grains”
Commodity and packaging input exposure
Purchases dairy, meat, sugar/sweeteners, coffee, tomato, soybean/vegetable oils, eggs, fruits/vegetables, wheat/grains; packaging plastics, resin, cardboard, glass, paper, metal; energy electricity, natural gas, water; diesel exposure
“We purchase and use large quantities of commodities, including dairy products, meat products, sugar and other sweeteners, coffee, tomato products, soybean and vegetable oils, eggs, other fruits and vegetables, and wheat and processed grains to manufacture our products.”
Primary foreign currency exposures
Substantial net sales from international markets; primary non-USD exposures: CAD, EUR, GBP, AUD, BRL, CNY, RUB, IDR, NZD; foreign currency hedges in place but may not be successful
“primarily the Canadian dollar, euro, British pound sterling, Australian dollar, Brazilian real, Chinese renminbi, Russian ruble, Indonesian rupiah, and New Zealand dollar.”
Competitive landscape
Competes with large international food companies, local/regional players, and private label on price, innovation, brand, taste
“We compete with both branded and private label products sold by retailers, wholesalers, and cooperatives.”
Plasmon infant/specialty food business divested
Divested Italian infant and specialty food business including Plasmon brand on December 31, 2025
“On December 31, 2025, in the first quarter of our fiscal year 2026, we divested our infant and specialty food business in Italy, which included our intellectual property rights to the Plasmon brand.”
R&D objectives
Four R&D objectives: innovation, food safety/quality, product/package performance, supply chain optimization
“Our research and development efforts focus on achieving the following four objectives”
Planned separation into two companies (currently paused)
Previously announced separation of Kraft Heinz into two independent publicly traded companies; work currently paused
“the previously announced separation of Kraft Heinz into two independent publicly traded companies, including the timing and structure of such separation, the pause of work related to the separation”
2025 inflationary pressure from tariffs and trade policy
2025 supply chain cost inflation partly from U.S./foreign tariff and trade actions; expected to moderate through 2026
“During the year ended December 27, 2025, we experienced increased inflationary pressures in our supply chain costs compared to the prior year period, due in part to the tariff and trade policy actions taken by the United States and foreign governments during the year.”
2025 commodity cost trends
In 2025, costs increased for coffee, meats, and eggs; costs decreased for cheese and dairy products and tomato products
“we experienced increases in certain commodity costs, particularly for coffee, meats, and eggs while costs for cheese and dairy products and tomato products decreased”
KHFC Senior Notes structural subordination and parent guarantee
KHFC Senior Notes are structurally subordinated to all subsidiary liabilities; parent guarantee capped by fraudulent transfer law limits and terminates on defeasance
“the KHFC Senior Notes are structurally subordinated to all liabilities of the Parent Guarantor’s subsidiaries”
FD&C color removal commitment and consumer trends
Q2 2025 commitment to remove FD&C colors from U.S. product portfolio
“In the second quarter of 2025, we announced our commitment to remove Food, Drug & Cosmetic ("FD&C") colors from our U.S. portfolio of products befor”
Separation transaction paused
Separation into two companies announced Sep 2, 2025; paused by Board on Feb 11, 2026
“On February 11, 2026, we announced that the Kraft Heinz Board of Directors (the "Board") has decided to pause work related to the Separation.”
Data privacy regulations (GDPR, CCPA, CPRA)
Subject to GDPR, CCPA, and CPRA, which may increase compliance costs and risk of substantial penalties
“The European Union’s General Data Protection Regulation (“GDPR”), and similar regulations implemented in other non-U.S. geographies, adds a broad array of requirements with respect to personal data... and imposes substantial penalties for non-compliance.”
Berkshire Hathaway ownership/influence
Berkshire Hathaway owns approximately 27.5% of common stock as of January 16, 2026 and has influence over stockholder actions
“As of January 16, 2026, Berkshire Hathaway Inc. (“Berkshire Hathaway”) owns approximately 27.5% of our common stock.”
Separation execution risks
Separation carries risks: regulatory approvals, securities price impact, standalone viability, disruption/costs, capital structure, credit ratings, tax treatment
“negative effects of the announcement pendency of the separation, including the current pause on work related to the separation, on the market price of Kraft Heinz's securities and/or on Kraft Heinz's financial performance”
Commodity hedging limitations
Manages commodity volatility through pricing and hedging, but does not fully hedge and strategies may not protect from specific raw material cost increases
“we do not fully hedge against changes in commodity prices, and our hedging strategies may not protect us from increases in specific raw material costs”
Retail consolidation and loss of key retail customers
Retail consolidation and e-commerce shift could materially adversely affect product sales, financial condition, and operating results
“Retail consolidation and increasing retailer power could materially and adversely affect our product sales, financial condition, and operating results.”
Highly competitive industry with private label pressure
Food & beverage industry highly competitive vs branded and private label manufacturers/retailers; competition may force price reductions and higher promotional spend
“Our principal competitors in these categories are manufacturers and retailers with their own branded and private label products.”
Indebtedness and refinancing risk
Substantial debt; majority USD-denominated vs. foreign-currency profits; refinancing risk on unfavorable terms; covenant breach could trigger default and loss of Senior Credit Facility access
“exposing us to risks related to fluctuations in foreign currency, as we earn profits in a variety of foreign currencies and the majority of our debt is denominated in U.S. dollars”
Commodity/energy price volatility driven by tariffs and inflation
Commodity, energy, and input prices are volatile, partly due to recent tariff and trade policy actions; past input cost volatility experienced
“particularly due to inflationary pressures, due in part to changes in governmental regulation, including the recent tariff and trade policy actions taken by the United States and foreign governments.”
Pension and labor cost exposure
Inflation, labor shortages, turnover, and collectively bargained agreements may increase labor/pension costs; pension assets invested in diversified equity/fixed-income portfolio
“Our labor costs include the cost of providing employee benefits in the United States, Canada, and other foreign jurisdictions, including pension, health and welfare, and severance benefits.”
Macroeconomic and geopolitical risks including tariffs
Exposure to inflation, tariffs/trade restrictions, financial institution instability, recession, potential U.S. federal government shutdown, and geopolitical conflicts
“(including inflationary pressures, the imposition of increased or new tariffs or other trade restrictions, instability in financial institutions, general economic slowdown, recession, or a potential U.S. federal government shutdown)”
Reputation, brand image, and social media risk
Brand image depends on marketing investment and adaptation to social/digital media, where misinformation can seriously damage brands
“Negative posts or comments about us, our brands or our products, or our suppliers and, in some cases, our competitors, on social or digital media, whether or not valid, could seriously damage our brands and reputation.”
Changing consumer preferences including weight-loss drugs
Success depends on predicting consumer preference shifts, including health/wellness and consumption patterns potentially associated with weight-loss drugs
“changing consumption patterns, such as those potentially associated with weight-loss drugs”
Technology, cybersecurity, and IT systems risk
Dependence on IT systems including service interruptions, data misappropriation, and security breaches
“our dependence on information technology and systems, including service interruptions, misappropriation of data, or breaches of security”
Dependence on significant customers and suppliers
Significant portions of sales derive from certain significant customers; loss or disputes could materially adversely affect results
“We derive significant portions of our sales from certain significant customers (see Sales and Customers within Item 1, Business).”
Customer credit risk from leveraged consolidated customers
Customer consolidations have created larger, highly leveraged customers, increasing credit risk and receivables collection exposure
“Consolidations in some of the industries in which our customers operate have created larger customers, some of which are highly leveraged and facing increased competition and continued credit market volatility.”
Third-party licensed IP (trademarks) dependency
Licenses certain IP, most notably trademarks, from third parties; failure to maintain relationships could impact rights and results
“We also license certain intellectual property, most notably trademarks, from third parties.”
Divestitures could trigger impairments
Divestitures of non-strategic assets could lead to future goodwill or intangible asset impairments
“Additionally, any decisions to divest certain non-strategic assets could lead to future goodwill or intangible asset impairments.”
Indebtedness, covenants, impairments, and FX/commodity volatility
Risks include debt covenants, goodwill/intangible impairments, FX fluctuations, and commodity/energy input cost volatility
“our level of indebtedness, as well as our ability to comply with covenants under our debt instruments; additional impairments of the carrying amounts of goodwill or other indefinite-lived intangible assets; foreign exchange rate fluctuations; volatility in commodity, energy, and other input costs”
Cost-saving initiative execution risk
May be unable to realize benefits from initiatives to reduce fixed costs and improve competitiveness; initiatives may raise conversion, outsourcing, or distribution costs
“certain of our initiatives may lead to increased costs in other aspects of our business such as increased conversion, outsourcing, or distribution costs.”
Cybersecurity incidents and cyber insurance limits
Maintains cyber insurance but coverage may be inadequate for actual liabilities; past security incidents not material but future impact not assured
“While we maintain a cyber insurance policy that provides coverage for security incidents, we cannot be certain that our coverage will be adequate for liabilities actually incurred”
Pension, labor, and people-related expense risk
Increased pension, labor, and people-related expenses; retention of key personnel
“increased pension, labor, and people-related expenses”
Shareholder returns and capital markets risk
Dividend continuation, share repurchase activity changes, and capital markets volatility cited as risk factors
“our ability to continue to pay a regular dividend and the amounts of any such dividends”
Concentration of influence of largest stockholder
Company cites influence of its largest stockholder as a risk factor
“the influence of our largest stockholder”
Tax law changes, audits, and transfer pricing
Tax exposure from law changes, audit determinations including transfer pricing, and related litigation
“changes in tax laws and interpretations and the final determination of tax audits, including transfer pricing matters, and any related litigation”
Consolidating retailers with increased purchasing power can demand lower pricing, favorable terms, and private label, pressuring Kraft Heinz sales and margins.
“Retail customers, such as supermarkets, warehouse clubs, and food distributors in our major markets, may continue to consolidate, resulting in fewer but larger customers for our business across various channels.”
Walmart is Kraft Heinz's largest customer at ~21% of net sales for three consecutive years, across both reportable segments, creating significant revenue concentration.
“Our largest customer, Walmart Inc., represented approximately 21% of our net sales in 2025, 2024, and 2023. Both of our reportable segments have sales to Walmart Inc.”
Private label products generally sold at lower prices restrict Kraft Heinz's ability to increase prices in response to commodity cost increases.
“including pressures related to private label products that are generally sold at lower prices”
Coffee was a key input with rising costs in 2025, pressuring margins
“we experienced increases in certain commodity costs, particularly for coffee, meats, and eggs”
Taste Elevation (condiments, sauces, dressings, spreads) is the largest platform at 45% of 2025 consolidated net sales, the core revenue driver.
“Taste Elevation45 %44 %44 %”
Volatility in commodity, energy, and other input costs is a cited risk; ability to pass through via pricing may be restricted.
“volatility in commodity, energy, and other input costs; volatility in the market value of all or a portion of the commodity derivatives we use”
IRS NOPAs for 2018-2022 could result in approximately $1.01 billion additional federal tax (excluding interest) plus ~$85 million penalties per year if the company's contest fails.
“In 2025, we received two NOPAs for the years 2020 through 2022 that could result in additional U.S. federal income tax expense and liability of approximately $200 million for 2020, $210 million for 2021, and $200 million for 2022, excluding interest and assert penalties of approximately $85 million for each of the years of 2020, 2021, and 2022.”
U.S. and foreign tariff/trade actions drove increased 2025 supply chain inflation; mitigation via pricing has hurt market share; expected to moderate through 2026.
“we experienced increased inflationary pressures in our supply chain costs compared to the prior year period, due in part to the tariff and trade policy actions taken by the United States and foreign governments”
Weak economic conditions, recessions, inflation, severe weather, pandemics, geopolitical conflicts, and boycotts can affect consumer preferences and demand and strain the supply chain.
“weak economic conditions, recessions, inflation, severe or unusual weather events, pandemics, geopolitical conflicts, public boycotts, as well as other factors, could affect consumer preferences and demand”
Kraft Heinz purchases large quantities of wheat and processed grains as core manufacturing inputs; price volatility flows into costs and results.
“We purchase and use large quantities of commodities, including dairy products, meat products, sugar and other sweeteners, coffee, tomato products, soybean and vegetable oils, eggs, other fruits and vegetables, and wheat and processed grains to manufacture our products.”
Meat costs increased in 2025, a material input cost headwind
“increases in certain commodity costs, particularly for coffee, meats, and eggs”
Recent tariff and trade policy actions contribute to commodity, energy, and input price volatility affecting consolidated operating results.
“including the recent tariff and trade policy actions taken by the United States and foreign governments.”
Foreign exchange rate fluctuations are explicitly cited as a factor that could cause actual results to differ materially, reflecting international operations.
“foreign exchange rate fluctuations”
Packaging inputs are purchased in significant quantities to package products
“we purchase and use significant quantities of plastics, resin, cardboard, glass, paper and metal to package our products”
Natural gas is used in manufacturing and distribution of products
“we use electricity, diesel fuel, and natural gas in the manufacturing and distribution of our products”
Technology-based shopping via e-commerce websites and mobile applications is significantly altering the retail landscape; failure to adjust could disadvantage the company in key channels.
“technology-based systems, which give consumers the ability to shop through e-commerce websites and mobile commerce applications, are also significantly altering the retail landscape in many of our markets”
Electricity, natural gas, and water are used to operate facilities; diesel affects packaging and transportation costs; price volatility affects operating results.
“we use other inputs, such as electricity, natural gas, and water, to operate our facilities. We are also exposed to changes in oil prices, including diesel fuel, which influence both our packaging and transportation costs.”
Top five customers account for ~46% of North America segment net sales, showing heavy channel concentration in North America retail.
“the five largest customers in our North America segment accounted for approximately 46% of North America segment net sales”
Kraft Heinz competes against private label brands sold by retailers, wholesalers, and cooperatives, a structural competitive pressure on branded packaged foods.
“We compete with both branded and private label products sold by retailers, wholesalers, and cooperatives.”
Company committed in 2025 to remove FD&C colors from U.S. portfolio by end of 2027; failure or perceived failure could negatively affect reputation and brand image.
“If we fail to achieve, or are perceived to have failed or been delayed in achieving, or improperly report on our progress toward achieving this goal, it could negatively affect our reputation or brand image.”
Majority of debt is USD-denominated while profits are earned in various foreign currencies, creating mismatch risk.
“as we earn profits in a variety of foreign currencies and the majority of our debt is denominated in U.S. dollars”
The manufacture and sale of consumer food and beverage products is described as highly regulated, covering production, labeling, advertising, safety, and marketing.
“The manufacture and sale of consumer food and beverage products is highly regulated.”
Customer industry consolidation has created larger, highly leveraged customers, raising credit risk on receivables.
“some of our customers, suppliers, and counterparties are highly leveraged.”
Company must respond to competitors' technological advances including artificial intelligence, machine learning, and augmented reality, which may become critical in interpreting consumer preferences.
“including artificial intelligence, machine learning, and augmented reality, which may become critical in interpreting consumer preferences in the future”
Evolving privacy/data protection regulations may increase compliance costs and expose the company to substantial penalties and breach-related private rights of action.
“GDPR, CCPA, CPRA, and other privacy and data protection laws may increase our costs of compliance and risks of non-compliance, which could result in substantial penalties.”
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