KRAFT Heinz, the third largest food company in the US, is rolling out a major structural change after a decade.
The packaged-food giant is officially splitting into two companies as it grapples with major industry challenges.
The Kraft Heinz Company stands as the third largest food and beverage company in North America and the fifth biggest in the world, known for well-known brands like Kraft, Heinz, Philadelphia, Oscar Mayer, Velveeta, and Lunchables.
After over a decade together, Kraft Heinz is reversing its 2015 merger between Kraft and Heinz, splitting into two independent, publicly traded companies.
As they part ways, one company will focus on sauces, spreads, and seasonings, while the other will sell grocery staples across North America.
The major change comes as an effort to revive growth and provide a more dedicated focus to different business areas.
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