Kraft Heinz cooks up a new venture with Oprah
Kraft Heinz is looking to leverage Oprah Winfrey's marketing expertise by launching a new line of food products.
The company announced a joint venture with Winfrey called Mealtime Stories, a new line of food that, according to the company, will make real, nutritious products more accessible to everyone. The initial offering will be ready to eat refrigerated products across multiple categories.
Kraft Heinz says it will initially develop, manufacture, market and sell this new line of food products in the United States. As part of the joint venture, 10% of profits will be donated to charities aimed at eradicating hunger.
Winfrey is no stranger to successful marketing partnerships. In 2015, Winfrey acquired a 10% stake in Weight Watchers and joined the company's board. When Weight Watchers unveiled an ad campaign with Winfrey last year, the company's shares shot up 17%.