Combination creates unparalleled portfolio of powerful and iconic brands.

H.J. Heinz Co. and The Kraft Foods Group have signed a definitive merger agreement to form The Kraft Heinz Co.

The merger will create the third largest food and beverage company in North America and the fifth largest food and beverage company in the world. The combined company to be named The Kraft Heinz Co.and to be co-headquartered in Pittsburgh and the Chicago area.

The new company will have revenues of approximately $28 billion with eight $1+ billion brands and five brands between $500 million-$1 billion.

The merger is a stock and cash transaction, with Kraft shareholders receiving a special cash dividend of $16.50 per share upon closing and stock in the combined company representing a 49% stake in the new company.

Berkshire Hathaway and 3G Capital will invest an additional $10 billion in The Kraft Heinz Co.; existing Heinz shareholders will collectively own 51% of the new company.

Significant synergy opportunities exist with a strong platform for organic growth in North America, as well as global expansion, by combining Kraft’s brands with Heinz’s international platform. The Kraft Heinz Co. is fully committed to maintaining an investment grade rating. The company plans to maintain Kraft’s current dividend per share, which is expected to increase over time.