KHC’s international portfolio was gradually built up within a few selected industries, primarily through privately negotiated acquisitions. In selecting individual investments, the focus has been on:

• Identifying high quality assets and management
• Managing the portfolio’s geographical investment focus to take advantage of the evolving global investment climate and optimising the timing of entry into each specific investment
• Emphasis on undervalued assets
• Emphasis on the development of strategic relationships to create additional value within the portfolio.

KHC is generally a long-term investor in its core companies, and seeks to work closely with the management of those companies and participate in strategic decisions. It believes that this active approach increases its overall portfolio returns. KHC also believes that the portfolio benefits from the diversity of the industries represented as well as geographic diversification among the various investments.