Kraft Heinz rallies by breaking up silos, expanding internationally
PARIS — Expanding internationally, focusing on foodservice and breaking up silos all contributed to the Kraft Heinz Co. growing its business over the past three years, said two executives June 15 in the Deutsche Bank dbAccess Global Consumer Conference.
The stock price for Kraft Heinz on the Nasdaq closed at $91.65 per share on June 15, 2017, but it had dropped to $30.31 per share by June 14, 2019.
“Our brands were underinvested (three years ago),” said Rafael de Oliveira, zone president of international markets. “Our assets, in some ways, depleted, not invested enough. There was a lack of confidence on investors. So we were really at the bottom.”
Kraft Heinz’s stock price has stopped plunging and closed at $36.18 per share on June 15 of this year.
Two building blocks for growth have come in emerging markets and foodservice, said Andre Maciel, global chief financial officer.
“Those two combined, they represent 20% of our…