India, Aug. 29 -- Kraft Heinz Co. (KHC) is preparing to split itself into two separate businesses, according to a Wall Street Journal report citing people familiar with the matter.
The plan, which could be finalized and announced as early as next week, would divide the food giant into a grocery-focused company and a sauces-focused company.
The move follows months of strategic reviews. In July, Kraft Heinz confirmed it was exploring options for its grocery portfolio, including a possible spinoff of several iconic Kraft-branded products. That potential new entity could be valued at up to $20 billion, according to earlier reports. Executives said at the time they were working "with urgency" to evaluate alternatives.
By separating into two u...