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Two of the World’s Largest Food Companies Might Be Joining Forces

Arnd Wiegmann/Reuters and Hellman’s/NY Times

Kraft Heinz, the company behind some of your favorite snack brands like Oreo, Cadbury, Toblerone and Kool-Aid, has offered to buy Unilever, the company behind some of your other favorite snack brands like Dove, Domestos, Marmite, Ben and Jerry’s and Cornetto, for a whopping $143 billion dollars.

https://twitter.com/carlquintanilla/status/832576037393424384

While Kraft said its offer had been declined, the company looks forward to “working to reach agreement on the terms of a transaction.” But Unilever doesn’t seem to be on the same page, saying that the proposal “fundamentally undervalues” the company and that it sees “no merit, either financial or strategic” for the deal or basis for further discussions.

“There can be no certainty that any further formal proposal will be made to the board of Unilever or that an offer will be made at all or as to the terms of any transaction,” Kraft said in a news release.

If the Kraft-Unilever deal were to happen, it would combine consumer staples like Hellman’s mayonnaise with Heinz ketchup, among other brands.

[via New York Times]

 

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