NEW YORK (AP) — Kraft Heinz is splitting into two companies a decade after they joined in a massive merger.
One of the companies will include shelf stable meals and include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese, Kraft Heinz said Tuesday. The other will include brands such as Oscar Mayer, Kraft Singles and Lunchables. The names of the two companies will be released later.
Kraft Heinz said in May that it was conducting a strategic review of the company, signaling a potential split.
“Kraft Heinz’s brands are iconic and beloved, but the complexity of our current structure makes it challenging to allocate capital effectively, prioritize initiatives and drive scale in our most promising areas,” Kraft Heinz Executive Chair Miguel Patricio said in a statement.
Kraft Heinz has no plans to change its current headquarter locations in Chicago and Pittsburgh. It currently expects the transaction to close in the second half of 2026.
The Latest
Featured
