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Kraft Heinz has put its planned break-up on hold, as its new chief executive disclosed plans to invest $600mn to turn around the struggling food company.
Steve Cahillane, who took over as CEO in January, said on Wednesday that the US consumer goods group will pause work on splitting the business in two, a move that would have unwound the megamerger orchestrated by Warren Buffett and 3G Capital a decade ago.
“My number one priority is returning the business to profitable growth, which will require ensuring all resources are fully focused on the execution of our operating plan,” Cahillane said.
The announcement came as Kraft Heinz announced weak quarterly results, with net sales declining by 3.4 per cent to $6.4bn in the final three months of 2025.
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