Bottles of Heinz ketchup are seen on a shelf in a supermarket in Omaha, Nebraska, U.S., May 4, 2019. (Reuters File)
Share
Getting your Trinity Audio player ready...
|
Packaged food maker Kraft Heinz is preparing to break itself up, the Wall Street Journal reported on Friday, citing people familiar with the matter.
The company is looking to spin off a large chunk of its grocery business, including many Kraft products, into a new entity that could be valued at as much as $20 billion on its own, the report said.
This move would leave the company with housing goods such as sauces and spreads such as Heinz’s namesake ketchup and Dijon mustard brand Grey Poupon.
Shares of the company were up 2.5% in afternoon trading.
Kraft Heinz declined to comment on the report, but referred to its May announcement of evaluating potential strategic transactions to unlock shareholder value.
—
(Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Shilpi Majumdar)
RELATED TOPICS:
Trump Says He Will Order Voter ID Requirement for Every Vote
18 hours ago
Greta Thunberg Joins Flotilla Heading for Gaza With Aid
18 hours ago
Chicago Mayor Says Police Will Not Aid Federal Troops or Agents
18 hours ago
Post-War Gaza Plan Sees Relocation of Population, ‘Digital Token’ for Palestinian Land: Washington Post
18 hours ago
Labor Day Quiz: Do You Know What a Knocker-Upper Is?
18 hours ago
Judge Blocks Pillar of Trump’s Mass Deportation Campaign
2 days ago
Visalia Driver Arrested for DUI After Multiple Crashes and Pedestrian Injured
2 days ago
Fresno County Garnet Fire Grows to 18,748 Acres in Sierra National Forest
17 hours ago
Categories

Fresno County Garnet Fire Grows to 18,748 Acres in Sierra National Forest

Israel Pounds Gaza City Suburbs, Netanyahu to Convene Security Cabinet

Trump Says He Will Order Voter ID Requirement for Every Vote

Greta Thunberg Joins Flotilla Heading for Gaza With Aid

Chicago Mayor Says Police Will Not Aid Federal Troops or Agents

Post-War Gaza Plan Sees Relocation of Population, ‘Digital Token’ for Palestinian Land: Washington Post
