This week it was announced that Kraft Foods Group Inc (NASDAQ: KRFT) would combine with H.J. Heinz Co. in a move engineered by Brazil-based 3G Capital and Berkshire Hathaway Inc (NYSE: BRK-B).
The combination of these two iconic brands will create a powerhouse consumer staples company with far reaching global exposure.
On Thursday, Kraft rose more than 35 percent on news of the deal, which will include a special cash dividend and 49 percent ownership share in the new combined company.
This jump also impacted a specialty ETF designed to capitalize on the strength of food, beverage, and restaurant stocks.
The PowerShares Dynamic Food & Beverage Portfolio (NYSE: PBJ) invests ...
/www.benzinga.com/etfs/sector-etfs/15/03/5356681/heinz-kraft-news-lifts-food-beverage-etf alt=Heinz-Kraft News Lifts Food & Beverage ETF>Full story available on Benzinga.com
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