Kraft Heinz to split into two companies

A decade after its merger created a global food giant, Kraft Heinz said early Tuesday that it planned to split into two separate companies.

- LAUREN HIRSCH JULIE CRESWELL

Its slower-growing grocery business, which includes well-known brands such as Oscar Mayer, Kraft Singles and Lunchables, would be spun off into a new entity. The remaining company would house sauces, condiments and products with faster-growing sales, such as Heinz ketchup, Philadelphia cream cheese and Kraft Mac & Cheese.

Kraft Heinz executives lauded the move as an effort to give better, more focused attention to the two entities. But investors were more sceptical, concerned about the costs of the split and questioning the plans on either side for growth.