- The Kraft Heinz Company will split into two independent, publicly traded companies.
- The company reported that the separation “is designed to maximize Kraft Heinz’s capabilities and brands while reducing complexity, allowing both new companies to more effectively deploy resources toward their distinct strategic priorities.”
- The names of the post-split companies have not yet been determined.
The reorganization will shift the brands into different focuses. The first company will be focused on “Global Taste Elevation Co.” and will include the iconic brands such as Heinz, Philadelphia and Kraft Mac & Cheese.
The second company, “North American Grocery Co.,” will include Oscar Mayer, Kraft Singles and Lunchables.
“This move will unleash the power of our brands and unlock the potential of our business,” said Carlos Abrams-Rivera, Kraft Heinz CEO, in a statement. “This next step in our transformation is only possible because of the commitment of our 36,000 talented employees who deliver quality and value for consumers every day. We will continue to operate as ‘one Kraft Heinz’ throughout the separation process.”
