Kraft Heinz, Oprah form joint venture to develop new line of food products

Heinz ketchup maker Kraft Heinz Co and media mogul Oprah Winfrey said on Wednesday they would form a joint venture to develop a new line of food products in the United States.

The joint venture, Mealtime Stories LLC, will initially make ready-to-eat refrigerated products across multiple categories and 10 percent of its profits will be donated to charities focusing on eradicating hunger.

Kraft Heinz will initially develop, manufacture, market and sell this new line of food products.

(Reporting by Abhijith Ganapavaram in Bengaluru; Editing by Shounak Dasgupta)