Kraft Heinz confirms spin-off grocery division

(Update) Another food conglomerate is looking to undo a giant merger: Kraft Heinz is about to split itself into two separate companies, one focused on groceries and the other on sauces. The company has just confirmed this.

Flagship brand

In July, Kraft Heinz admitted it was looking into divesting the grocery division (which includes processed cheeses, meat substitutes and frozen meals), as those products are under pressure from changing consumer preferences and inflation. The new entity would have an estimated value of just under twenty billion euros.