Kraft Heinz to Restate Nearly Three Years of Financial Reports After Investigation

Various Heinz sauces of U.S. food company Kraft Heinz are offered at a supermarket of Swiss retail group Coop in Zumikon, Switzerland, on Dec. 13, 2016. Arnd Wiegmann/Reuters

Kraft Heinz Co. will restate financial reports for a near three-year period to fix errors that resulted from lapses in procurement practices by some of its employees, the packaged food company said in a filing on May 6.

The company also said it received an additional subpoena from the U.S. Securities and Exchange Commission (SEC) in March, related to the assessment of goodwill and asset impairments and a request for documents associated with the procurement operations.