US Edition
Warren Buffett says he is 'disappointed' in Kraft Heinz split; shares fall 3%
Kraft Heinz plans a $300 million split into two firms to manage iconic brands separately after a 3% sales drop in 2024, despite Warren Buffett's concerns.
- Kraft Heinz announced on Tuesday it will split into two stand-alone, publicly traded companies named Global Taste Elevation Co. and North American Grocery Co.
- The split follows a strategic review initiated in May amid a 3% sales decline in 2024 and years-long underperformance.
- Global Taste Elevation Co. will focus on sauces and shelf-stable meals with brands like Heinz and Kraft Mac & Cheese, while North American Grocery Co. will hold legacy staples including Maxwell House and Oscar Mayer.
- Executive Chair Miguel Patricio said the split aims to reduce complexity, but Warren Buffett expressed disappointment, stating "taking them apart will not fix it," as shares fell about 3% to $26.12.
- The company expects the tax-free spin to complete in the second half of 2026, costing roughly $300 million and taking about one year, with no planned changes to headquarters or CEO for North American Grocery Co.
112 Articles
112 Articles
Ten years after the merger, they are going their separate ways again. The American food group Kraft Heinz is splitting into two separate businesses. Management hopes that this will help both brands grow. But investor Warren Buffett doesn't believe it. The shares fell significantly after the announcement.
Kraft Heinz Breaks Up, Bumming Out Billionaire Buffett
Breaking up is hard to do. Even for Warren Buffett. After Kraft Heinz announced Tuesday that it’d be splitting into two companies, confirming reports from earlier this summer, the Oracle of Omaha told CNBC that he was disappointed that the conglomerate he helped piece together couldn’t make it work. Buffett may be on the way out, but his word still has weight: Shares of Kraft Heinz fell 7% Tuesday. Snack Attack The 2015 merger, a $46 billion mar…
Kraft Heinz undoes blockbuster merger after a decade of changing tastes - WNKY News 40 Television
NEW YORK (AP) — Kraft Heinz is splitting into two companies a decade after a merger of the brands created one of the biggest food manufacturers on the planet. One of the companies, currently called Global Taste Elevation Co., will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese, Kraft Heinz said Tuesday. The other, currently called North American Grocery Co., will include slower-selling brands like Maxwell House, O…
Kraft Heinz undoes blockbuster merger after a decade of changing tastes - Boston News, Weather, Sports
NEW YORK (AP) — Kraft Heinz is splitting into two companies a decade after a merger of the brands created one of the biggest food manufacturers on the planet. One of the companies, currently called Global Taste Elevation Co., will include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese, Kraft Heinz said Tuesday. The other, currently called North American Grocery Co., will include slower-selling brands like Maxwell House, O…
NiagaraFallsReview.ca
Kraft Heinz is splitting up after 10 years; Warren Buffett ‘disappointed’ by breakup of brands
The food giant is reversing a 2015 merger, a move that will see brands like Kraft Dinner Heinz Ketchup, Philadelphia, Oscar Mayer, Maxwell House, managed by different companies.
Coverage Details
Bias Distribution
- 49% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
