Kraft Heinz and Oprah Form Food Joint Venture
Kraft Heinz is now one of Oprah Winfrey's favorite things. The food company and the entertainment mogul announced Wednesday, Jan. 25, that they'd formed a joint venture called Mealtime Stories LLC, which will offer "ready to eat refrigerated products across multiple categories," which "will make real, nutritious products more accessible to everyone."
Winfrey acquired a 10% stake in Weight Watchers , paying $43.2 million in October 2015 and joining the company's board. When Weight Watchers unveiled an ad campaign in December in which Oprah touted her personal weight loss on the diet program, the company's shares shot up 17%.
Kraft Heinz spokesman Michael Mullen said in an email that there was no connection between the joint venture and Weight Watchers.
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