Booming Kraft Heinz Pension Adds Some Shine to Weathered Brands

Hidden among Kraft Heinz Co.’s brightly colored assets exists an unusual source of value: an over-funded pension plan.

Kraft Heinz reported $815 million of extra assets in its defined-benefit pension plan as of the end of 2024, according to its annual financial filings. Those millions could be used to improve its own finances or as a deal sweetener as its weighs a breakup or sale.

The food conglomerate, formed a decade ago in a merger designed by 3G Capital and Berkshire Hathaway Inc., has been evaluating strategic alternatives after years of lackluster results. The company has fought inflation ...