Overview

• One company, Global Taste Elevation, will house Heinz, Philadelphia and Kraft Mac & Cheese, while North American Grocery will include Oscar Mayer, Kraft Singles and Lunchables.
• The separation is structured as a tax-free spin-off targeted for completion in the second half of 2026, pending required approvals and filings.
• Kraft Heinz projects up to $300 million in separation-related dis-synergies and says it aims to offset a substantial portion near term.
• CEO Carlos Abrams-Rivera will lead North American Grocery, with a search underway for a Global Taste Elevation chief and a board separation committee overseeing execution.
• Shares fell between 3% and 7% intraday following the announcement and Warren Buffett’s criticism, and Berkshire Hathaway holds roughly 27.5% of the company.