Kraft Heinz, Oprah to form joint venture

by Keith Nunes
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Oprah, Kraft Heinz joint venture
The Kraft Heinz Co. and Oprah Winfrey have entered into a joint venture.

PITTSBURGH — The Kraft Heinz Co. and Oprah Winfrey have entered into a joint venture to produce and market ready-to-eat products. The j.v., called Mealtime Stories L.L.C., is intended to create a new line of products that are nutritious and more accessible to everyone, according to the company.

Kraft Heinz will develop, manufacture, market and sell the new line in the United States. As part of the joint venture, 10% of profits will be donated to charities aimed at eradicating hunger.

More specific information about the brand and products will be revealed later in 2017, Kraft Heinz said.

This is not the first time Ms. Winfrey has dabbled in the food and beverage industry. This past May she filed a request with the U.S. Patent and Trademark Office to trademark several culinary products branded under “Oprah’s Kitchen.” In October 2015, Ms. Winfrey acquired a 10% stake in Weight Watchers International, with options to purchase 5% more, and in 2014 she partnered with Starbucks Corp. to create Teavana Oprah Chai Tea, the proceeds of which benefitted the Oprah Winfrey Leadership Academy Foundation.
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