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Shares in the food and beverage giant fell nearly 25% in Friday trading, Berkshire Hathaway has been particularly hard hit
Shares in the food and beverage giant Kraft Heinz fell nearly 25% in Friday trading, a day after the company wrote down by $15.4bn the value of its Kraft and Oscar Mayer brands.
The company, which has disclosed that in October it received a subpoena from the Securities and Exchange Commission (SEC), has been battling pressure on the value of its brands since it came into existence via a $49bn merger in 2015. Consumers, seeking healthier fare, have flocked away from famous products such as Heinz Tomato Ketchup, Jell-O and Kraft Macaroni & Cheese.
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