Patrick Oconnell
Robert Kraft is a well-known figure in the world of American football, notably as the owner of the New England Patriots. Kraft, an industrialist and sportsman, has no affiliation with Kraft Foods, despite a common misconception that he obtained funding from the company to purchase the Patriots. Kraft Foods, now Kraft Heinz, was formed by the Kraft family, specifically James L. Kraft.
| Characteristics | Values |
|---|---|
| Name | Robert Kraft |
| Business | Kraft Group |
| Product | Kraft Macaroni and Cheese |
| Company | Kraft Foods |
| Company Founder | James L. Kraft |
| Company History | Merged with Dart Industries in 1980, acquired by Philip Morris Companies in 1988, split into two companies in 2012 |
| Product History | Introduced during the Great Depression, rebranded as Kraft Macaroni & Cheese in the US, changed name to Kraft Mac & Cheese in 2022 |
| Sports Team | New England Patriots |
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What You'll Learn
Robert Kraft owns the New England Patriots
Robert Kraft is the owner of the New England Patriots, a National Football League (NFL) team. Kraft, an American billionaire businessman, has been a fan of the Patriots since their American Football League days and has been a season ticket holder since 1971. He first expressed interest in buying the team in 1985 when he leased a large tract of land in Foxborough, Massachusetts, surrounding Sullivan Stadium (later Foxboro Stadium), the home of the New England Patriots.
In 1988, Kraft purchased the stadium out of bankruptcy court for $22 million, outbidding several competitors. The purchase included the stadium's lease to the Patriots, which ran through 2001. Kraft also placed a bid on the Patriots franchise but lost to Victor Kiam. However, due to the terms of the operating covenant, any potential buyer would have to negotiate with Kraft.
In 1992, Kiam sold the Patriots to James Orthwein, who intended to move the team to St. Louis. Orthwein offered Kraft $75 million to buy out the remainder of the team's lease at Foxboro Stadium, but Kraft refused, thwarting Orthwein's plans to relocate the team. In January 1994, Kraft finally acquired the New England Patriots, paying a record-breaking $172 million for an NFL team at the time.
Under Kraft's ownership, the Patriots became the most consistently successful franchise in the NFL. In his first five years of ownership, the team won 49 games and qualified for the playoffs four times, advancing to the Super Bowl in his third season. Over Kraft's 30 seasons (1994-2023), the Patriots won an unprecedented 353 games, including playoffs, for an average of 12 wins per season. They also won six Super Bowls (2002, 2004, 2005, 2015, 2017, and 2019) and were named "Team of the Decade" by many publications.
In addition to his success with the Patriots, Kraft has also been involved in other sports ventures. He founded the New England Revolution of Major League Soccer (MLS) in 1996 and owned the San Jose Clash (later San Jose Earthquakes) from 1998 to 2000. He also founded the esport-based Boston Uprising in 2017 and has expressed interest in investing in European football, particularly in Liverpool F.C.
Kraft has also used his position to support charitable causes. He has made significant donations to various organizations, including the New England Patriots Charitable Foundation and Combined Jewish Philanthropies of Greater Boston. He has also supported initiatives to help those in need during the COVID-19 crisis and to combat the opioid crisis in Boston.
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Kraft Foods was founded by the Kraft family
Kraft Foods was founded by James L. Kraft and his brother Charles in 1903 as a wholesale cheese delivery business in Chicago. Two other brothers later joined the firm, and in 1909, it was incorporated as J.L. Kraft Bros. & Company. The company began by processing cheese for distribution to area retailers. Kraft Foods grew and expanded in the postwar era, with one notable acquisition being Velveeta in 1927. The company also merged with the Phenix Cheese Company in 1928, adding Philadelphia cream cheese to its product line.
Over the years, Kraft Foods introduced many iconic products, including Kraft- and Velveeta-branded cheese products, Milka and Toblerone chocolates, Planters nuts, Jell-O desserts, Kool-Aid powdered beverages, Jacobs and Maxwell House coffees, Lu biscuits, Nabisco cookies and crackers, Oscar Mayer meats, and Cadbury chocolates.
In 1980, Kraft Foods merged with Dart Industries, a diversified manufacturer of home appliances, plastic products, and batteries. The company underwent several ownership changes, including being acquired by Philip Morris Companies in 1988 and later integrating with General Foods and Nabisco Holdings to form Kraft General Foods, Inc.
While Robert Kraft, the owner of the New England Patriots NFL team, shares a last name with the Kraft family that founded Kraft Foods, there is no indication that he or his family own Kraft Macaroni and Cheese. The confusion may arise from the popularity of Kraft Macaroni and Cheese, often referred to as "Kraft Mac and Cheese," and Robert Kraft's ownership of the Patriots, leading to jokes and discussions about the product's ownership.
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Kraft Foods merged with Heinz in 2015
Kraft Foods and H.J. Heinz merged in 2015, forming the Kraft Heinz Company (KHC), also commonly known as Kraft Heinz. The merger was approved by shareholders and regulatory authorities, creating the world's fifth-largest food and beverage company and the third-largest in the United States. The new company is co-headquartered in Chicago and Pittsburgh, with additional offices across the globe.
The merger brought together two large food companies with complementary strengths. Heinz had a strong global presence, with 60% of its sales coming from regions outside North America, while Kraft derived 98% of its sales from North America. This provided an opportunity for the combined entity to sell Kraft's brands in international markets. However, this opportunity was limited by Kraft's existing agreement with Mondelez International, which had been spun off from Kraft in 2012 to focus on international growth.
The management of the merged company expected significant cost savings and synergies from the merger. They anticipated realising $1.5 billion in annual cost savings by the end of 2017, primarily through higher economies of scale in the North American market. The larger volume of sales would enable the company to negotiate better deals with clients, such as large retail outlets, specialty food stores, and restaurants. Additionally, the combined entity would benefit from Kraft's stronger credit rating, allowing it to refinance Heinz's high-yielding debt with low-yielding, investment-grade debt.
The merger was valued at around $45 billion, and the new company was expected to have annual sales revenue of approximately $28 billion. The chairman of Heinz, Alex Behring, became the chairman of the new company, while the vice chairmanship was reserved for Kraft's chairman and CEO, John Cahill. The shareholders of Heinz held a 51% stake in the new company, with the remainder going to Kraft's shareholders.
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Robert Kraft has no affiliation with Kraft Foods
Kraft Macaroni and Cheese, also known as Kraft Mac & Cheese, is a product of Kraft Foods, which was founded by James L. Kraft and his brother Charles in 1903 as a wholesale cheese delivery business in Chicago. Over the years, Kraft Foods has expanded its product line and undergone several mergers and acquisitions, including being acquired by Philip Morris Companies in 1988.
Robert Kraft, on the other hand, is an American industrialist, sportsman, and owner of the New England Patriots football team. He is also the founder of the Kraft Group, a holding company for a diverse range of businesses. Robert Kraft has no affiliation with Kraft Foods. While they share a last name, there is no indication that Robert Kraft or his family have ever owned Kraft Foods or any of its subsidiaries.
Robert Kraft's involvement with the New England Patriots began in 1985 when he leased land surrounding Sullivan Stadium (later renamed Foxboro Stadium) in Foxborough, Massachusetts. In 1988, he purchased the stadium and eventually acquired the Patriots in 1994, paying a record-breaking $172 million at the time. Under his ownership, the Patriots became one of the most successful franchises in the National Football League (NFL), winning multiple Super Bowls.
The confusion between Robert Kraft and Kraft Foods may arise due to the popularity of the Kraft Macaroni and Cheese product, which has become synonymous with comfort food in America. However, it is important to clarify that Robert Kraft, the owner of the New England Patriots, has no known connection to the Kraft Foods brand or its products.
In summary, while Robert Kraft is a prominent figure in the sports industry, known for his ownership of the New England Patriots, he has no known affiliation with Kraft Foods or its popular Kraft Macaroni and Cheese product. The two entities, despite sharing a similar name, operate in different industries and have distinct histories and areas of focus.
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Robert Kraft is one of the richest NFL owners
Robert Kraft is an American billionaire businessman, industrialist, and sportsman. He is the chairman and CEO of the Kraft Group, a diversified holding company with assets in paper and packaging, sports and entertainment, real estate development, and a private equity portfolio.
Kraft's first sports-related venture was the Boston Lobsters, a team in Billie Jean King's World Team Tennis league, which he bought in 1975. However, the team folded in 1978 when the original WTT disbanded. In 1985, he leased a large tract of land in Foxborough, Massachusetts, that surrounded Sullivan Stadium (later Foxboro Stadium), the home of the New England Patriots. In 1988, he purchased the stadium and finally acquired the Patriots in January 1994, paying $172 million, the highest price for an NFL team at the time.
Under Kraft's ownership, the Patriots became the most consistently successful franchise in the NFL, winning six Super Bowls (2002, 2004, 2005, 2015, 2017, and 2019). With team revenues increasing, Kraft built Gillette Stadium with 83% private funding, replacing the old Foxboro Stadium. He also developed Patriot Place, a hotel, retail, dining, and entertainment complex adjacent to the new stadium.
In addition to his success with the Patriots, Kraft has also made wise investments in other ventures. He has a net worth of around $11-12 billion, with a portfolio that includes the New England Revolution (MLS), Gillette Stadium, International Forest Products, Rand-Whitney Group, and more. Forbes ranked him as the 188th richest person in the world in 2024, making him one of the wealthiest NFL team owners.
While Robert Kraft, the owner of the New England Patriots, has no relation to Kraft Macaroni and Cheese, his success in business and sports has made him one of the richest NFL owners in the country.
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Frequently asked questions
No, Robert Kraft has never had anything to do with Kraft Foods or Kraft Heinz. He is, however, the owner of the New England Patriots.
According to Forbes, Robert Kraft is the ninth richest NFL owner as of 2024, with a net worth of $11.1 billion.
Kraft Foods Group, Inc. was an American food manufacturing and processing conglomerate, which became a part of Kraft Heinz in 2015 after merging with Heinz. It is one of the biggest producers of food and beverages worldwide.
