00:00A big breakup in the food aisle. Kraft Heinz is splitting in two, undoing much of the $46 billion mega merger that shook the industry a decade ago.
00:09The food giant says it will split into two separate companies.
00:13One will focus on faster-growing businesses like sauces, spreads, and shelf-stable meals.
00:19Think Heinz ketchup, Kraft mac and cheese, and Philadelphia cream cheese.
00:22The other will focus on slower-growth grocery items and food away from home businesses like Oscar Mayer Hot Dogs, Kraft Singles, and Lunchables.
00:31Kraft Heinz says the split will let each company get the attention and resources they need to grow.
00:37The deal is expected to close in the second half of 2026.
00:41The new companies don't have names yet, but Wall Street will be watching how investors digest this latest shake-up in the packaged food business.
00:49That'll do it for your daily briefing. From the New York Stock Exchange, I'm Caroline Woods with The Street.
