Kraft Heinz CEO exploring $20 billion grocery spinoff after ketchup sales go flat
Key Points
- Kraft Heinz is considering spinning off its grocery business...
Warren Buffett's beloved ketchup empire is having an identity crisis. Kraft Heinz just announced they're considering spinning off their grocery business for a cool $20 billion, proving that even the Oracle of Omaha's picks sometimes need a major life makeover.
The timing couldn't be more telling. Just last week, Kellogg decided their cereal wasn't cutting it anymore and spun off that division for $3.1 billion. It's like watching dominoes fall, except each domino is worth billions and tastes significantly worse than it used to.
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