Financial Data and Key Metrics Changes - The company announced plans to split into two separate entities: Global Taste Elevation Co and North American Grocery Co, aiming to improve focus and performance [3][4] - The company has been experiencing flat growth in the Global Taste Elevation segment, primarily due to pressures in the U.S. market, while international markets show mid- to high single-digit growth [19][20] Business Line Data and Key Metrics Changes - The Lunchables brand has seen growth due to focused innovation and marketing efforts, demonstrating the effectiveness of the brand growth system [6][66] - The North American Grocery Co is expected to have significant margin opportunities, with a focus on improving operational efficiencies and expertise [37][40] Market Data and Key Metrics Changes - The U.S. market has faced challenges, including prolonged consumer pressure and a shift towards lower-priced options, impacting overall performance [22][23] - The company is adapting to changing consumer behaviors by expanding its presence in dollar channels, such as Dollar General, to provide more options for cost-conscious consumers [25][66] Company Strategy and Development Direction - The separation is intended to reduce complexity and enhance focus, allowing each entity to align resources and strategies more effectively [7][54] - The company aims to drive growth through targeted investments in key platforms, including taste elevation, ready-to-eat meals, and snacking [12][66] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current challenges in the food industry but remains committed to long-term investments in brand quality and marketing, rather than short-term volume gains [65][66] - The company is confident that its strategic focus and investments will lead to improved performance over time, despite current pressures [66][67] Other Important Information - The company expects to incur approximately $300 million in dissynergies due to the split, with costs distributed across various operational areas [32][33] - The Global Taste Elevation segment is projected to achieve top-line growth towards the upper end of the company's growth algorithm, while North American Grocery is expected to grow in the low single digits [34][36] Q&A Session Summary Question: Why is the separation expected to improve performance? - Management believes that increased focus will lead to better performance and unlock shareholder value, as seen in past initiatives [4][5] Question: How does the competitive landscape affect the decision to split? - The company faces competition from specialized firms, and the split will allow for deeper expertise and focus in each business area [9][10] Question: What are the expected dissynergies from the split? - The estimated $300 million in dissynergies will primarily impact COGS, technology, and SG&A, with most synergies expected to benefit the global company [32][33] Question: How does the growth outlook compare to market share expectations? - The Global Taste Elevation segment is expected to grow due to its exposure to emerging markets, while North American Grocery can afford to lose some market share and still meet growth expectations [34][36] Question: Will there be a margin reset for North American Grocery? - Management does not foresee a significant margin reset but acknowledges the need for targeted investments to drive efficiencies [38][41] Question: What is the rationale for including mac and cheese in Global Taste Elevation? - Mac and cheese fits within the growth strategy due to its strong market share and margins, and the company is investing in improving its quality and marketing [46][50]

此次拆分预计将在2026年下半年完成，公司已为此预留了高达3亿美元的成本。 卡夫亨氏公司宣布将拆分为两家独立上市公司：一家负责食品杂货(年销售额约104亿美元，包括Oscar Mayer和Lunchables等品牌)，另一家负责酱料及涂抹酱(年销售额约154亿美元，包括Heinz、Philadelphia 和Kraft Mac&Cheese等品牌)。 伯克希尔.哈撒韦公司的沃伦.巴菲特对此次拆分表示"失望"，认为拆分本身并不能解决公司面临的问 题。 公司首席执行官Carlos Abrams-Rivera将领导食品杂货业务，公司正在寻找酱料业务的首席执行官。 ...

Craft Hinds announced plans today to split into two companies, unwinding much of its 10-year-old 46 billion dollar merger that created one of the biggest food companies in the world. The first of the two new companies, which are not yet named, will include shelf stable meals and will be home to brands such as Hines, Philadelphia, and Craft Mac and Cheese. The second company is going to be a portfolio of American staples such as craft singles and Lunchables. ...

CANADA - 2025/08/30: In this photo illustration, the Kraft Heinz logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)SOPA Images/LightRocket via Getty ImagesKraft Heinz (NASDAQ: KHC) is set to divide into two publicly traded entities by the latter half of 2026. This action effectively reverses the 2015 Kraft–Heinz merger, which had been marketed based on scale and operational efficiency but is now recalled for its lackluster performanc ...

Kraft Heinz will split into two companies, reversing much of the blockbuster $46 billion merger from a decade ago that created one of the biggest food companies in the world.The first of the two new companies, which are not yet named, will primarily include shelf-stable meals and will be home to brands such as Heinz, Philadelphia and Kraft mac and cheese. Kraft Heinz said that company on its own would have $15.4 billion in 2024 net sales, and approximately 75% of those sales would come from sauces, spreads ...

Financial Data and Key Metrics Changes - Organic net sales declined 2% year-over-year, an improvement from a 4.7% decline in the first quarter [7][33] - Free cash flow generated year-to-date was $1,500,000,000, nearly 30% above prior year levels [8][40] - Adjusted operating income declined 7.5%, with a margin decrease of 120 basis points [35] - Adjusted EPS declined 11.5% to $0.09 compared to 2024 [40] Business Line Data and Key Metrics Changes - North America organic net sales declined 3.2%, with growth in Canada offset by lower U.S. sales [33] - International developed markets saw a 2.2% decline in organic net sales, primarily due to the UK [34] - Emerging markets experienced a 7.6% increase in organic net sales, driven by double-digit growth in Latin America and the Middle East [34][25] Market Data and Key Metrics Changes - Global Away From Home organic net sales declined 1.9%, with continued growth in international Away From Home [10] - The U.S. Away From Home industry continues to face pressure due to traffic headwinds [10] - Emerging markets are projected to reach a double-digit growth pace by year-end [44] Company Strategy and Development Direction - The company remains focused on long-term growth and value creation, unlocking efficiencies to reinvest in the business [9] - Investments are being made in North America retail, emerging markets, and away-from-home segments [5][12] - The brand growth system is on track to reach 40% sales coverage by year-end, up 30 percentage points from 2024 [12] Management's Comments on Operating Environment and Future Outlook - The macro environment remains volatile, with consumers seeking value through price and product benefits [6] - Management is optimistic about growth in emerging markets but does not anticipate improvement in the U.S. industry for the rest of 2025 [11] - The company is committed to maintaining a competitive annual dividend and targeting a net leverage ratio of three times [42] Other Important Information - The company announced an agreement to sell its infant and specialty food business in Italy to drive profitable growth [42] - A significant impairment charge of approximately $9,300,000,000 was recognized due to a sustained decline in share price [40] Q&A Session Summary Question: What are the expectations for organic net sales in 2025? - The company expects organic net sales to decline in the range of 1.5% to 3.5%, with growth anticipated in emerging markets [44] Question: How is the company addressing inflationary pressures? - The company is increasing investments in price and marketing to mitigate inflationary headwinds and drive momentum [36][37] Question: What is the outlook for adjusted operating income? - The company expects a decline of 5% to 10% in constant currency adjusted operating income, reflecting macroeconomic uncertainties [45]

Core Viewpoint - Kraft Heinz Co. is reportedly considering a significant corporate restructuring, potentially splitting into two distinct entities: a grocery division and a "Taste Elevation" segment focused on sauces and spreads [1][4]. Group 1: Corporate Restructuring - The potential breakup would mark a pivotal moment for Kraft Heinz, formed by the 2015 merger of Kraft and Heinz [1][7]. - The restructuring aligns with recent strategic announcements aimed at enhancing shareholder value [1][4]. Group 2: Market Reactions - The prospect of a split has received mixed reactions, with some analysts questioning its effectiveness in addressing the company's underlying business challenges [2][6]. - Bank of America Securities analyst Peter T. Galbo maintains an Underperform rating with a $29 price forecast, citing soft fundamentals and valuing the stock at 11x estimated 2026 earnings [3][6]. Group 3: Segment Financials - The Taste Elevation segment, which includes brands like Heinz and Philadelphia, accounts for approximately 45% of trailing 12-month sales, or $11 billion, and is likely to remain with the parent company [5]. - The Grocery segment, making up the remaining 55% of sales (around $14 billion), includes brands such as Kraft, Oscar Mayer, and Lunchables, and is expected to be spun off [5]. Group 4: Analyst Insights - Galbo estimates only modest upside from a potential breakup, projecting a 6.9% increase to the $29 price forecast, and believes that a split alone will not significantly enhance shareholder value without broader operational improvements [6]. - Oscar Mayer is flagged as a strategic uncertainty, with potential sale discussions to companies like JBS or Alfa, although it may also remain within the Grocery segment to avoid de-synergies [7]. Group 5: Other Analyst Updates - Wells Fargo analyst Chris Carey has maintained an Equal-Weight rating and raised the price forecast from $27 to $29 [8]. - As of the last check, KHC shares were trading higher by 2.23% to $27.75 [8].