Kraft Heinz Co. is preparing to spin off a significant portion of its grocery business to concentrate on faster-growing divisions like sauces. The split is anticipated to be announced shortly, as the company finalizes details. Despite holding a market value of approximately $31.7 billion, Kraft Heinz has faced declining revenues over the past two years due to changing consumer preferences and intensified competition. This shift highlights broader trends in the packaged food sector, with a growing consumer preference for healthier options and regulatory pressures for more natural ingredients.
Kraft Heinz Co. is preparing to break itself up, potentially spinning off a large part of its grocery business to focus on faster-growing segments like sauces.
The company has faced challenges with sales declines over the past two fiscal years as consumer preferences shift towards healthier and less processed foods.
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