Kraft Heinz Is Preparing to Break Itself Up

Kraft Heinz Co. is preparing to break itself up, people familiar with the matter said, as the US food company looks to combat shifting consumer sentiment and reverse a sagging share price.

Under the plan, the company is weighing whether to spin off a large part of its grocery business into a new entity, according to the people. This would allow it to focus on faster-growing segments such as sauces, they said.