Kraft Heinz is looking to invest in brands with both geographic reach and the potential to cross into other food and beverage categories, according to CEO Bernardo Hees. He discussed the company's current reinvestment phase during a Sept. 5 presentation at Barclays 2018 Global Consumer Staples Conference, and Seeking Alpha posted the transcript.
Brands with these qualities are ones "that can travel," Hees said. "For sure there are situations within categories that don't change and varies country by country, but I think Heinz is a good example, I think Kraft is a good example, I think Planters is a good example," he said. "They are the brands that are more local and that's fine, extremely important to the portfolio and important for us. But what I mean by brands that can travel, brands that have the awareness and have the potential of doing something bigger than themselves."
According to Food Business News, Heinz has branched out from mainly a ketchup brand to entering the mustard and barbecue areas. The company debuted Heinz mayonnaise earlier this year. The company also reintroduced Planters Cheez Balls and Cheez Curls on a limited basis this summer.
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