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early trading to a 52 week high of $87. 88 and closed at $83. 17, up $21. 85, or 35. 6 percent. Oscar Mayer is based in Madison, and the union represents 650 of about 1,200 Kraft and Oscar Mayer workers in Madison.
Still, the early plans outlined by Kraft and Heinz executives in a conference call Wednesday focused largely on cost efficiencies that would be achieved through the deal, rather than the potential for sales growth in North America. They said they expect to save $1. 5 billion through moves such as combining manufacturing and distribution networks, as well as using the newly created company's scale to negotiate better prices for ingredients. The boards of both companies unanimously approved the deal, which still needs a nod from federal regulators and shareholders of Kraft Foods Group Inc. The companies say they expect the deal to close in the second half of the year. Once it goes.
f co workers are making a lot of money on their stock right now," said Doug Leikness, president of United Food Commercial Workers union Local 538 in Madison, referring to the big jump in the stock price. Kraft shares leaped 43 percent in Adidas Superstar Ladies Trainers
Employees have the option to buy Kraft shares and to include them in their 401(k) plans. The combination of the two companies each more than a century old Adidas Superstar Designs
was engineered by Warren Buffett's Berkshire Hathaway and Brazilian investment firm 3G Capital. Although shoppers are not expected to see any major changes as a result, the creation of the Kraft Heinz Co. As shoppers increasingly migrate away from longtime pantry staples in favor of options marketed Adidas Superstar Camo Green
as less processed, companies including Campbell Soup, General Mills and Kellogg have been slashing costs or striking deals intended to refresh their products. The Heinz Kraft deal is in many ways just the latest example of that, although Buffett noted that the two companies still have a strong Adidas Superstar Floral Kids base of customers. "I think the tastes Kraft and Heinz appeal to are pretty enduring," he said in a telephone call to the business news channel CNBC.