Heinz-Kraft Deal Gets Canada's Stamp of Approval

H.J. Heinz Co. and Kraft Foods Group Inc. said their pending merger received approval from Canadian antitrust regulators, clearing a final regulatory hurdle.

In a news release on Wednesday, Heinz and Kraft said Canadian regulators issued a "no action" letter, indicating they don't intend to challenge the proposed merger.

The deal, orchestrated by Warren Buffett and Brazilian private-equity firm 3G Capital Partners LP, will create one of the world's largest food-and-beverage companies.

The combined company, which will be called the Kraft Heinz Co., will have revenue of about $28 billion and include well-known brands such as Oscar Mayer meats, Maxwell House coffee, Jell-O, and Planters nuts, along with the namesake Kraft cheese products and Heinz ketchup and condiments.

The deal still requires the approval of Kraft shareholders and other customary closing conditions. Kraft said it would hold a special meeting of shareholders to vote on the merger July 1.

Write to Tess Stynes at [e-mail]

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