Kraft Heinz splits into two companies

U.S. conglomerate Kraft Heinz, producer of ketchup and Philadelphia cream cheese, announced that it will split into two separate companies.

"The separation is designed to maximize Kraft Heinz’s capabilities and brands while reducing complexity, allowing both new companies to more effectively deploy resources toward their distinct strategic priorities. This focus will enable stronger performance while preserving the scale to compete and win in today’s environment," the group said in a statement.

One company will focus on marketing sauces, spreads, and condiments, including the well-known Philadelphia cream cheese and Heinz ketchup, with sales projected to reach around $15 billion by 2024.

The second company will focus on Oscar Mayer-branded products, including sausages and snacks, with sales of approximately $10 billion last year.

The transaction is expected to close in the second half of 2026, according to the company.

The conglomerate was formed in 2015 as a result of the merger between Kraft Foods and Heinz.

Currently, its largest shareholder is Berkshire Hathaway (27.25%), the company founded by Warren Buffett.