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Kraft Heinz Co. is returning to its tried-and-true cost-cutting strategy as the packaged-food giant looks to beef up its long-term financial position.
The company will target $2 billion in savings over the next five years by focusing on procurement, manufacturing and logistics, according to a presentation released ahead of its investor day.
As part of what it’s calling a “strategic transformation plan,” Kraft is now targeting organic net sales growth of 1% to 2%. The ketchup-maker is also expecting long-term adjusted EPS growth of 4% to 6%.