Multinational food corporation The Kraft Heinz Company will split into two companies in a bid to boost profits and unlock shareholder value, the company said in a Sept. 2 statement.
Kraft Heinz was formed in 2015 by the merger of Kraft Foods and H.J. Heinz.
Since 2024, the company’s quarterly sales have consistently registered year-over-year declines, raising questions about its financial performance.
Kraft Heinz said that the decision to split into two independent, publicly traded companies was taken to enable stronger performance.
One of the spin-off companies will include brands such as Heinz, Philadelphia, and Kraft Mac & Cheese, with 75 percent of net sales coming from sauces, spreads, and seasonings. This group had combined net sales of $15.4 billion in 2024….