Kraft Heinz shares fall as appetites wane
|bbc.com 22 Feb 2019 at 13:22|
Kraft Heinz s share price has plunged to a record low amid signs that customer appetite for the company s processed foods is weakening.
The US food giant s stock dropped 27% after it reported flat 2018 sales and said it would write down the value of its Kraft and Oscar Mayer brands by $15.4bn (£11.8bn).
The firm also said its accounting practices were under investigation.
But said it did not expect that inquiry to be "material" to financial results.
Kraft Heinz is one of the world s biggest food companies, with brands that include its eponymous ketchup, Jello-O, Amoy and Wattie s.
Created in 2015 by , it is controlled by Berkshire Hathaway and the 3G Capital investment firm, which is known for its cost-cutting approach to its businesses.