Yahoo Finance reported Tuesday that Kraft Heinz will split into two companies by late 2026, nearly a decade after its $63 billion merger. The decision follows years of declining sales as consumers moved toward healthier, less-processed options.
The separation will create Global Taste Elevation Co., which includes Heinz, Kraft Mac & Cheese, and Philadelphia, and North American Grocery Co., which will control Oscar Mayer, Kraft Singles, and Lunchables. Berkshire Hathaway Chairman Warren Buffett opposed the move, calling it costly and ineffective. Shares fell 3% after the announcement.
The DX Brief
- Kraft Heinz to separate into two companies by 2026
- Global Taste Elevation Co. to hold Heinz, Kraft Mac & Cheese, Philadelphia
- North American Grocery Co. to control Oscar Mayer, Kraft Singles, Lunchables
- Warren Buffett criticized the decision, shares fell 3%
Read the full article from Yahoo Finance published by AP
