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Kraft Heinz executive says company is managing inflation with efficiencies, brand renovation

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Kraft Heinz's head of U.S. business Carlos Abrams-Rivera told CNBC on Wednesday that the company has a three-pronged approach to manage inflation.

Abrams-Rivera said Kraft Heinz has a "three-pronged approach" to manage inflationary pressures. The first, he said, is a goal of delivering about $400 million in efficiencies across the company by year-end, which are "helping us manage through this."

The third pillar to Kraft Heinz's approach to inflation includes looking at how products are packaged, he said. "So, things like ... Lunchables — we actually launched a new $1 pack also," he said. "Having options for consumers at different levels that allows us to have a good value is also part of how we're managing through this whole inflation situation we're seeing."

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