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Understanding "Who Owns Whom" is a trickier game these days than years ago, when more brands were independent companies.  These days, the food industry is no different than other industries that merge and combine to gain efficiences in manufacturing and personnel, and ultimately save costs in running their business. 

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Companies seek to redefine themselves as consumer preferences change.  For instance, Coca-Cola and Pepsi were once primarily soda companies.  As soda sales slowed, they purchased companies or developed brands in growing categories, such as snacks, juice, water and other non-carbonated drinks.

The challenge that many companies face is protecting their flagship brand while promoting new products. In the case of Coca-Cola - they must still maintain their traditional carbonated soda sales while devoting resources to promote non-carbonated Dasani water and Vitamin Water.  Doing this may eventually take away sales from their core Coca-Cola brand.  To complicate things, Pepsi is using the exact same strategy with Aquafina and Gatorade brands to compete against Coke and deal with declining soda sales. Certainly a tricky game indeed.  

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Some companies sell brands so that they may concentrate on their better-performing core brands, while other companies buy brands to build up their portfolio of companies.  Yet another instance of companies arranging or re-arranging their priorities is a merger between two food giants, such as Kraft and Heinz, which may lead the new mega-company to question whether some of the smaller brands remain a marketing or strategic priority in the new company, or if they are even possible to maintain.  If so, these brands could get sold to the highest bidder, perhaps to a smaller company that is building their portfolio. For instance, Pinnacle Foods was founded in 1998 and is comprised of older, iconic brands that were sold by other companies, but were still well-known and viable.  

See the "Brand Parent" below, and the companies/brands that are under the corporate umbrella.  You may be surprised to see Who Owns Whom.  Clicking on many of the brands below will bring you to the brand website.