Kraft Heinz, Oprah Launching New Packaged Food Line

Kraft Heinz Co. and Weight Watchers International Inc. shares advanced in the extended session Wednesday after Heinz and Oprah Winfrey, who owns 10% of Weight Watchers, announced a partnership to launch a new packaged food line. Kraft Heinz shares advanced 0.5% to $89.30 and Weight Watchers shares rose 0.7% to $12.10 after hours. While Weight Watchers was not mentioned in the statement, Winfrey owns 10% of the weight-control company which also markets its own line of packaged meal programs. Under the partnership, Kraft Heinz, which is 26.8% owned by Warren Buffett's Berkshire Hathaway , and Winfrey will launch a joint venture called Mealtime Stories LLC, "new line of food that will make real, nutritious products more accessible to everyone" with brand specifics and product details to be released later in the year, the statement said.