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Headquarters Of Kraft Business Heading To Chicago

Two weeks after a tie-up between Kraft and Heinz, the company has announced a move.

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Two weeks after shareholders signed off on a tie-up between Kraft and Heinz, the company has announced a move that will bring its Kraft headquarters from the northwest suburbs of Chicago into the city itself.

The food company, which will have combined annual revenue of about $28 billion, signed a long-term lease agreement for five floors of the AON Center on the north side of Chicago's Millennium Park, according to spokesman Michael Mullen.

Chicago was where founder J.L. Kraft first started selling cheese to local merchants in 1903, Mullen said.

Chicago Mayor Rahm Emanuel said in a written statement that the city didn't offer any incentives to lure Kraft from suburban Northfield, nor did the company request any.

Heinz will keep its headquarters in Pittsburgh.

Kraft and Heinz are joining to form The Kraft Heinz Co., one of the world's largest food companies with a stable of brands that, in addition to Kraft and Heinz, include Jell-O, Oscar Mayer, Velveeta and Ore-Ida.

Shares gained $1.15 to $77.86 in afternoon trading.

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