YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
Kraft Heinz announced plans to split itself in two.
The companies are not yet named, but the first would be home to brands such as Heinz, Philadelphia and Kraft mac and cheese. It would have over $15 billion in annual sales.
The second company, with brands including Oscar Mayer, Kraft singles and Lunchables, would have over $10 billion in annual sales.
Miguel Patricio, executive chair of the Kraft Heinz board, said "the complexity of our current structure makes it challenging to allocate capital effectively, prioritize initiatives and drive scale in our most promising areas."
Read more from CNBC.
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