The net revenue for the Kraft Heinz Group reported a decrease as the results for second quarter were declared. The group officials and analysts said that the merger of the two companies in March was responsible for the soft results.

The mega multi-billion dollar merger took place between the two companies in March, this year. The company’s second quarter ended June. Its organic net revenues went down by over than 3.2% for the 13-week period.

Kraft’s individual net revenues totaled $4.5 billion during the quarter. However, the joint overall revenue remained much below the estimates of at $4.7 billion.

In a statement issued recently, the company revealed that foreign exchange translations were responsible for a 1.4% decline.

“The company is focused on the difficult and challenging process of integrating our two businesses. We have a lot of hard work ahead of us as we continue to design our new organization, always putting our consumers first,” said Kraft Heinz CEO, Bernardo Hees.

Following the merger, the new company emerged as the third largest food and beverage company in North America.

Research Analysts at Zacks have placed the company at the 5th rank after the results were announced. Kraft Heinz was officially formed on July 2. In 2013, Heinz was acquired by Buffett-3G partnership.

Heinz reported a loss of 91 cents per share. This was higher than last year’s loss of 14 cents per share. The company later announced its aim of covering up the losses and emerging better by 2017.