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Heinz-Kraft Deal Strengthens Competitive Advantages

The deal, which would make Kraft-Heinz the third-largest food and beverage firm in North America, stands to enhance Kraft's narrow moat, writes Morningstar's Erin Lash.

We're placing our fair value estimate for narrow-moat

Our initial take is that the deal stands to enhance Kraft's narrow economic moat, which is derived from the firm's solid brand intangible asset and economies of scale on its home turf. As a combined firm, Kraft-Heinz would leapfrog

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About the Author

Erin Lash

Sector Director
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Erin Lash, CFA, is director of consumer sector equity research for Morningstar Research Services LLC, a wholly owned subsidiary of Morningstar, Inc. In addition to leading the sector team, Lash covers packaged food and household and personal care companies.

Before joining Morningstar in 2006, she spent four years as an investment analyst covering retail, transportation, and technology firms for State Farm Insurance.

Lash holds a bachelor’s degree in finance from Bradley University and a master’s degree in business administration, with concentrations in accounting and finance, from the University of Chicago Booth School of Business. She also holds the Chartered Financial Analyst® designation. She ranked second in the food and tobacco industry in The Wall Street Journal’s annual “Best on the Street” analysts survey in 2013, the last year the survey was conducted.

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