Kraft and Heinz to be merged by PE owners; NOOK updates its app, B&N their bags
Amazon VP tells Senators at committee hearing that the company is not happy with the slow pace of rule making at the FAA, wants drone testing approved at a quicker pace
The two food brands Kraft and Heinz will be merged as the private equity company 3G Capital has agreed to acquire Kraft Foods Group in partnership with Warren Buffett’s Berkshire Hathaway. A new company, The Kraft Heinz Company, will be created out of the deal, with Alex Behring, chairman of Heinz and a managing partner at 3G Capital, becoming chairman of the new company.
A new management team, for what will be now the third largest food and beverage company in North America, will be announced later. The merger will combine two ailing food companies and may complicate the sales efforts of publishers who depend on CPG advertising.
“Together we will have some of the most respected, recognized and storied brands in the global food industry, and together we will create an even brighter future,” said John Cahill, Kraft Chairman and CEO, who now become vice chairman of the new brand.
Amazon’s vice president of global public policy, Paul Misener, criticized the FAA for moving too slowly in regards to rules regarding drones.
“Although the United States is catching up in permitting current commercial UAS testing, the United States remains behind in planning for future commercial UAS operations,” Misener told Senate members of the Subcommittee on Aviation, Operations, Safety and Security yesterday.
Amazon’s complaint is that it took a year to get approval to test its drones, and only one model was approved – one that was later found to be outdated.
Barnes & Noble has updated its NOOK iOS app today, changing the name of the feature that helps organize books from My Stacks to My Shelves, as well as fixed some bugs in the app.
What’s New in Version 4.0.1
- Product details for samples can be viewed by tapping the cover image in search results
- Renamed “My Stacks” to “My Shelves” to make it more clear you can create shelves
- Improvements to My Shelves
- Updates to series stacks: Defaults on for library and off for My Shelves. Ability to change the defaults in the iOS Settings screen
- Usability improvements throughout the app
- Many bug fixes to improve stability and reliability
Bloomberg yesterday reported on the redesigned bags that will now be used at B&M’s retail stores, ones that will now promote print books rather than the NOOK. “You don’t get a shopping bag when you shop online—you get a box,” Glenn Kaplan, Barnes & Noble’s creative director, told Bloomberg.