Overview
- CEO Greg Abel has said he is not currently considering a sale of Berkshire’s Kraft Heinz stake after reports suggested the firm weighed cuts.
- Berkshire still owns about $7.3 billion of Kraft Heinz and has not traded the position since 2015.
- Berkshire paid about $75.50 a share for new stock in 2015, and Kraft Heinz now trades near $22.
- Kraft Heinz explored a breakup last year, then this year chose to reinvest in core brands, factories, and supply systems.
- The company’s credibility took a hit in 2019 when it recorded a $15 billion writedown, cut its dividend, and disclosed an SEC accounting probe.