The rise and fall of Kraft, the pioneer of processed cheese

<bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><p>Kraft has grown from a small cheese factory to a multi-national food conglomerate backed by Warren Buffettand it all started with processed cheese.</p><p>Over 100 years ago in the mid-1910s, Canadian-born businessman James L. Kraft found a way to turn leftover scraps of cheddar into a smooth, spreadable cheese with a longer shelf life and consistent taste.&nbsp;</p><p>This discoveryand the timing of itwas a game changer for the company.&nbsp;</p><p>Kraft supplied 6 million pounds of cheese to feed American soldiers in World War I and invented other iconic foods like packaged macaroni and cheese, which gained traction during the Great Depression.&nbsp;</p><p>But by the early 2000s, Americans had woken up to the potential negative health impacts of ultra-processed foods. Kraft faced scandals over its ingredients, and revenue from its cheese products stagnated.</p><p>Warren Buffett took a chance on the company and financed a merger between Kraft and Heinz in 2015. Still, Kraft announced a $15.4 billion impairment charge in 2019, meaning the value of its brand portfolio was declining.&nbsp;</p><p>We unpacked how Kraft went from a small cheese factory to one of the world's largest food companiesand what's next for the brand.&nbsp;</p><p><a href="https://www.businessinsider.com/rise-and-fall-kraft-processed-cheese-2021-6#comments">Join the conversation about this story &#187;</a></p>
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