Kraft Heinz to demerge into Global Taste Elevation and North American Grocery.

Kraft Heinz, a multinational food company, agreed to demerge into Global Taste Elevation, a company specialising in taste elevation and shelf-stable meals, and North American Grocery, a scaled portfolio of North America staples. Financial terms were not disclosed. “Kraft Heinz’s brands are iconic and beloved, but the complexity of our current structure makes it challenging to allocate capital effectively, prioritize initiatives and drive scale in our most promising areas. By separating into two companies, we can allocate the right level of attention and resources to unlock the potential of each brand to drive better performance and the creation of long-term shareholder value. I look forward to working closely with Carlos and the Kraft Heinz team in the months ahead to prepare the organization for the separation," Miguel Patricio, Kraft Heinz Executive Chair.