Chief Executive Officer at Kraft Heinz
I open today's call saying that it's a very exciting time to be at Kraft Heinz. And let me tell you why we think that way. First, we are very proud because we've been able to navigate through all the uncertainties over the last two years, at the same time that we are building a much better tomorrow. And that's not easy in moments like this. We are a very company -- in a very different company today. We are much more growth-oriented. We have improved our portfolio mix. And today, just the platforms where we are working, and we have focused, Taste Elevation is about 30% of our business today.
It's big and growing, and profitable. And just to put it in perspective, it's bigger and more profitable than McCormick, just to give you an example. We have consistent double-digit net sales growth in emerging markets. Our business in foodservice is strong and growing. And we are investing more in marketing in our brands and doing a much better job, so really, the profile in terms of growth is very different. From an efficiency standpoint, I think that we are in a much better place, not only because of the $2 billion that we talked about three years ago, and we delivered last year and the previous year on gross savings and supply, but efficiencies across the board. I mean, from marketing to distribution and these partnerships now with technology companies that will help us accelerate these efficiencies.
Finally, I think that we have a very different situation from a financial flexibility standpoint. With the discipline we had in the last two years, put us back in investment grade, and in a record time, just in two years. And going forward, we will continue generating free cash flow conversion at a rate of 100%, and we'll look to acquire business and capabilities that can be much more powerful when combined with the scale of our portfolio. All is, of course, with a lot of discipline in pricing. So that's why it's exciting to be at this moment working at Kraft Heinz. Thank you.