Chicago-based food group says it will split into two publicly traded companies through tax-free spin-off
Kraft Heinz, the US company behind kitchen staples such as Philadelphia cheese and Heinz tomato ketchup, has announced plans to split into two independent businesses a decade after it was created in a mega merger.
The Chicago-based packaged food group said it would separate into two publicly traded companies through a tax-free spin-off to try to reduce complexity and improve financial performance after years of falling sales.
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