US EditionWarren 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.
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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.
Kraft Heinz splitting into dual companies — as billionaire investor Warren Buffett knocks the move
Kraft Heinz announced Tuesday that it will split into two companies – much to the dismay of legendary investor Warren Buffett, who orchestrated the industry megamerger a decade ago.
Why Kraft Heinz Stock Was Sliding Today @themotleyfool #stocks $KHC
Key PointsKraft Heinz said this morning it would split into two companies.The business has struggled since it merged Kraft and Heinz a decade ago.Warren Buffett, a major shareholder, was not pleased with the move.10 stocks we like better than Kraft Heinz › Shares of Kraft Heinz (NASDAQ: KHC) were tumbling today after the packaged food giant said it would split into two companies, effectively unwinding a merger that created the behemoth 10 years …
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