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Kraft Heinz is splitting into 2 separate companies
Kraft Heinz just announced a major shake-up: they're breaking up into two separate publicly traded companies.
One will handle all the sauces and boxed meals you know—think Heinz ketchup and Kraft Mac & Cheese—while the other will focus on grocery favorites like Oscar Mayer hotdogs and Lunchables.
The official names for these new companies are still under wraps.
The split is nearly a decade after the merger
This move comes almost 10 years after Kraft and Heinz merged back in 2015.
With changing food trends, rising costs, and a 21% drop in their stock over the past year, Kraft Heinz says the split will streamline operations and unlock value.