Kraft Heinz discloses SEC probe, $15 billion write-down; shares dive 20 percent | Reuters


Shares of Kraft Heinz Co slumped 20 percent late on Thursday after the food company posted a quarterly loss, disclosed an SEC investigation and wrote down the value of its iconic Kraft and Oscar Mayer brands as it highlighted the tough environment for the packaged food industry.

The gloomy results and forecast from the company, which is one of billionaire Warren Buffett’s largest investments, reflect changes in consumer trends away from processed foods to healthier alternatives.

Source: Kraft Heinz discloses SEC probe, $15 billion write-down; shares dive 20 percent | Reuters

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