No, Philip Morris no longer owns Kraft. The ownership of Kraft Foods changed significantly when its former parent company, Altria Group, spun off the food giant.
The Historical Connection and Spin-Off
Historically, Kraft Foods was a part of Altria Group. Altria Group, which is the parent company of Philip Morris USA, made a strategic decision to divest its food business. This crucial event involved Altria spinning off Kraft Foods, distributing all shares it owned of Kraft Foods directly to Altria's shareholders. This corporate action effectively separated Kraft Foods from Altria Group and, consequently, from any direct or indirect ownership by Philip Morris.
This separation marked a clear division in the companies' business portfolios, allowing Altria to focus on its tobacco products, while Kraft Foods became an independent publicly traded entity.
Evolution of Kraft's Ownership
The path of Kraft's ownership has evolved further since the spin-off from Altria.
Key Stages of Ownership Evolution:
| Former Owner | Relationship to Kraft | Outcome of Transition |
|---|---|---|
| Altria Group | Parent company | Spun off Kraft Foods (shares distributed to Altria shareholders), making Kraft independent. |
| Independent Company | Publicly traded entity | Merged with H.J. Heinz Company. |
| The Kraft Heinz Company | Current owner and operator | Global food and beverage company, encompassing the Kraft brand. |
Today, Kraft is a significant brand under The Kraft Heinz Company, which was formed in 2015 through the merger of Kraft Foods Group and H.J. Heinz Company. Philip Morris USA, meanwhile, remains a core operating company of Altria Group, concentrating on its tobacco-related businesses.
This clear separation ensures that Philip Morris, as part of Altria Group, does not hold any ownership stake in Kraft Foods or its current parent entity, The Kraft Heinz Company.
