Kraft Heinz to Split into Two Independent Companies to Boost Growth and Shareholder Value
Reuters
Sep 02
Kraft Heinz to Split into Two Independent Companies to Boost Growth and Shareholder Value
The Kraft Heinz Company has announced its plan to separate into two independent, publicly traded companies to enhance profitable growth and increase shareholder value. The company's Board of Directors has unanimously approved this strategy, which involves a tax-free spin-off resulting in "Global Taste Elevation Co." and "North American Grocery Co." The separation aims to streamline operations, allowing each entity to focus on its distinct strategic priorities and improve performance. Carlos Abrams-Rivera will lead "North American Grocery Co." as CEO, while a Separation Committee, led by John Cahill, will oversee the transition. The reorganization is expected to be completed by May 2025, with efforts in place to mitigate potential dis-synergies.
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