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Brunswick Group is handling media for the Kraft Heinz split-up into two publicly traded companies.
The move undoes the merger of Kraft and Heinz a decade ago that was engineered by Warren Buffett and Brazil’s 3G Capital.
The plan calls for creation of a global sauces, spreads and seasonings company with $15.4B in annual sales from brands such as Heinz, Philadelphia, and Kraft Mac & Cheese.
The other company will consists of North American staples (Oscar Mayer, Kraft Singles, Lunchables) that generate $10.4B in annual revenues.
Miguel Patricio, executive chair of Kraft Heinz, said while his company’s “brands are iconic and beloved, the complexity of our current structure makes it challenging to allocate capital effectively, prioritize initiatives and drive scale to our most promising areas.”
He hopes the separation unlocks “the potential of each brand to drive better performance and the creation of long-term shareholder value.” Kraft Heinz stock is down more than 25 percent during the past year.
The names of the two companies have not yet been determined. The restructuring is expected to be completed by the second half of next year.
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