Is Kraft Heinz planning a spinoff?: reports
Kraft Heinz is reportedly planning to spin off part of its business.
The food giant could soon separate into two entities: one comprising Kraft grocery staples and the other condiments and sauces, which includes Heinz ketchup, The Wall Street Journal first reported.
In May, the company said its board and executive leadership team had been evaluating potential deals to “unlock shareholder value.”
Kraft Heinz formed in 2015 following the merger of Kraft Foods and H.J. Heinz, creating one of the largest food and beverage companies in the world.
The news comes days after another major transaction in the CPG industry.
Last week, Nutella maker Ferrero announced plans to purchase cereal company WK Kellogg for $3 billion.
WK Kellogg was formed in 2023 when Kellogg Co. separated its cereal and snacking businesses. The snacking entity, Kellanova, is currently in the process of being acquired by Mars Inc. for $25.9 billion.
