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  • 6 weeks ago
Kraft Heinz said it will split into two companies, unwinding its 2015 megamerger, according to The Wall Street Journal. One company will focus on sauces, spreads, and seasonings globally, while another will sell grocery staples in North America. Kraft Heinz CEO Carlos Abrams-Rivera said that scale paired with focus creates opportunities. He will lead the $10 billion North America grocery unit, while a separate $15 billion global business will manage “taste elevation” brands like Heinz ketchup and Kraft Mac & Cheese. The company has faced weakening demand for core products and is reshaping its portfolio by investing in healthier options to align with changing consumer preferences. Kraft Heinz reported a second-quarter loss in July due to a $9.3 billion impairment charge tied to its declining share price, which has fallen 21% over the past year. The company expects the split to be complete in the second half of 2026, with headquarters remaining in Pittsburgh and Chicago.

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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Kraft Heinz said it will split into two companies, unwinding its 2015 mega merger,
00:08according to the Wall Street Journal. One company will focus on sauces,
00:12spreads, and seasonings globally, while another will sell grocery staples in North America.
00:18Kraft Heinz CEO Carlos Abrams Rivera said that scale paired with focus creates opportunities.
00:24He will lead the $10 billion North America grocery unit,
00:27while a separate $15 billion global business will manage taste elevation,
00:32brands like Heinz Ketchup and Kraft Mac Cheese.
00:35The company has faced weakening demand for core products and is reshaping its portfolio
00:40by investing in healthier options to align with changing consumer preferences.
00:45Kraft Heinz reported a second quarter loss in July due to a $9.3 billion impairment charge
00:51tied to its declining share price, which has fallen 21% over the past year.
00:56The company expects the split to be complete in the second half of 2026,
01:01with headquarters remaining in Pittsburgh and Chicago.
01:04For all things money, visit Benzinga.com.
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