Deals
Kraft Heinz Expands Sustainability Push After Unilever Bid
- Company known for cost cuts investing $200 million in program
- Pledge to fight malnutrition comes after failed merger talks
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Kraft Heinz Co., rebuffed recently in its bid to buy Unilever, is investing $200 million in an expanded corporate social responsibility program that includes a pledge to fight malnutrition and decrease its environmental footprint.
The Kraft Heinz announcement comes about a month after the company pulled a $143 billion bid to buy Unilever, saying it didn’t want to get involved in a politically charged takeover fight. A major point of concern, particularly in Europe, was whether the Anglo-Dutch consumer-products giant’s focus on “brands with purpose” would survive the relentless cost cutting that is the hallmark of 3G Capital, the private equity firm that manages Kraft Heinz.