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Kraft Heinz Can’t Count on Ketchup to Save It From the Future of Food
Consumer tastes are undergoing a seismic shift, and the mac-and-cheese maker is being attacked from all sides.
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What went wrong at Kraft Heinz Co.?
Years before last month's jaw-dropping $15.4 billion writedown, the company had been on a mission to make over some of its quintessential products, removing maligned ingredients from its mac and cheese and hot dogs to better compete with newer, more natural upstarts. The reformulations weren’t enough. A month after the startling acknowledgement, the shares still haven't recovered, a sign of how difficult the road is ahead for Kraft Heinz and its Big Food rivals.