US Edition
Kraft Heinz explores grocery business spinoff worth up to $20 billion: Report
LATINA, LAZIO, ITALY, JUL 10 – Kraft Heinz sold five Italian infant and specialty food brands plus its Latina factory for $140 million to NewPrinces, preserving 300 jobs and production of 1.8 billion biscuits annually.
- Kraft Heinz revealed intentions to separate a significant portion of its food division, which would encompass numerous Kraft brand items, into a standalone company potentially worth around $20 billion.
- This move follows a decade-old merger between Kraft and Heinz that has struggled with declining sales and profits since shortly after combining.
- The company has prioritized faster-growing areas like hot sauces and dressings, while core products like macaroni and cheese have seen declines amid changing consumer preferences.
- Berkshire Hathaway, holding a 28% stake and having exited its board seats, faces increased pressure amid sale speculation as Kraft Heinz evaluates transactions to boost shareholder value.
- If finalized, the spinoff could reshape Kraft Heinz's portfolio focus and market value, signaling a strategic shift after years of underperformance.
36 Articles
36 Articles
According to a media report, Kraft Heinz is preparing to split up a large part of its food business into a new company with many Kraft products, reports the "Wall Street Journal" on Friday, citing insiders. The value of the newly planned company is estimated at up to $20 billion. Kraft Heinz will then remain products such as sauces and spreads, including Heinz Ketchup and the mustard brand Grey Poupon. Aktie commented on Kraft Heinz's refusal to…
The Independent
The Independent (US)Kraft Heinz is preparing to break up its business
Food company Kraft Heinz plans division for more market worth
NEW YORK, July 11 (Xinhua) -- U.S.-based multinational food company Kraft Heinz is preparing to break itself up, a decade after a merger of two of the biggest names in packaged foods that was orchestrated by U.S. investor and philanthropist Warren Buffett and Brazilian private-equity firm 3G Capital, The Wall Street Journal said Friday. Read full story
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