Kraft Heinz announced a split into two separate companies, effectively reversing the 2015 merger. One new company will focus on shelf-stable meals, spreads, and sauces and will include Heinz, Philadelphia cream cheese, and Kraft Mac & Cheese. The other will house Maxwell House, Oscar Mayer, Kraft Singles, and Lunchables, with the deal expected to close in 2026 and names for both companies forthcoming. Berkshire Hathaway holds a 27.5% stake and is the largest shareholder. Warren Buffett expressed disappointment about the decision and about shareholders not receiving a vote. Kraft Heinz shares have fallen nearly 70% since 2015 amid changing food tastes and demand for healthier options.
Berkshire Hathaway has a 27.5% stake in Kraft Heinz and is its largest shareholder, per CNBC. Buffett told CNBC's Becky Quick on Tuesday that he is "disappointed." "Disappointed with them coming up with this idea, and disappointed that shareholders won't be getting a vote," Quick said, reiterating what Buffett had told her.
Under the new contract, which is expected to close in 2026, one company will focus on shelf-stable meals, spreads, and sauces, and include brands like Heinz, Philadelphia cream cheese, and Kraft Mac & Cheese. The other will host Maxwell House, Oscar Mayer, Kraft Singles, and Lunchables, per the AP. Names for both are forthcoming.
Kraft Heinz shares have dropped nearly 70% since the merger in 2015, CNBC notes. Changing food tastes, a desire for healthier options with less preservatives, and more modern cooking methods have all been blamed for the decline.
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