One of the companies will include shelf-stable meals and include brands such as Heinz, Philadelphia cream cheese and Kraft Mac & Cheese. The other will include brands such as Oscar Mayer, Kraft Singles and Lunchables.
Kraft Heinz is splitting into two companies a decade after joining in a massive merger that created one of the biggest food companies on the planet.
One of the companies, currently called Global Taste Elevation Co., will include shelf-stable meals and 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 brands such as Oscar Mayer, Kraft Singles and Lunchables.
The names of the two companies will be released later.
Kraft Heinz said in May it was conducting a strategic review of the company, signaling a potential split.
The company in 2015 wanted to capitalize on its massive scale. But shifting tastes complicated those plans, with people gravitating to introduce healthier food options. Kraft Heinz and other food producers have shifted offerings to follow that trend.
“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,” Miguel Patricio, executive chair of the company, said in a written statement.
