Don’t miss the full story, whose reporting from Dee-Ann Durbin and Michelle Chapman at The Associated Press is the basis of this AI-assisted article.

Kraft Heinz announced Tuesday it will split into two separate companies a decade after the merger that created one of the world’s largest food manufacturers, with the transaction expected to close in the second half of 2026.

Some key facts:

• The split will create Global Taste Elevation Co. (including Heinz, Philadelphia cream cheese, and Kraft Mac & Cheese) and North American Grocery Co. (including Maxwell House, Oscar Mayer, Kraft Singles, and Lunchables).

• The transaction is expected to close in the second half of 2026 and will cost approximately $300 million to complete.

• Kraft Heinz’s net sales fell 3% in 2024, continuing a decline in revenue every year since 2020.

• Warren Buffett’s Berkshire Hathaway, the company’s largest shareholder with a 27% stake, opposed the split, but the company proceeded anyway.

• The original 2015 merger created the world’s fifth-largest food and beverage company with $28 billion in annual revenue.

• In 2019, Kraft Heinz wrote down the value of its Oscar Meyer and Kraft brands by $15.4 billion due to operational costs and supply chain problems.

• Carlos Abrams-Rivera will continue as CEO of Kraft Heinz and become CEO of North American Grocery Co., while a search is underway for Global Taste Elevation Co.’s CEO.

• The split follows recent breakups of other major food companies, including Keurig Dr Pepper and Kellogg Co.

​READ MORE: Kraft Heinz to split into two companies a decade after megafood merger

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