02/09/2026
In September 2025, Kraft Heinz announced plans to separate into two publicly traded companies.
In February 2026, new CEO Steve Cahillane pressed pause.
His argument was straightforward: the business needs to focus its resources on returning to profitable growth rather than spending those resources executing a separation.
The company is now putting approximately $600 million into marketing, sales capabilities and product development.
On paper, it’s a compelling turnaround strategy.
But here’s where this gets interesting for FMCG.
The problems that led Kraft Heinz to consider a split haven’t magically disappeared.
The company has been dealing with weak demand, pricing pressure, underinvestment in brands and a changing consumer environment. Its 2025 net sales declined 3.5%.
So the real question isn’t:
“Will Kraft Heinz split?”
It’s:
“Can Kraft Heinz fix the business without splitting it?”
That’s a much harder question.
And potentially a much more interesting case study for the FMCG industry.
Because if Cahillane succeeds, Kraft Heinz will have demonstrated that portfolio complexity wasn’t the fundamental problem.
But if growth doesn’t return, the argument for separation could become even stronger.
And Kraft Heinz itself hasn’t completely closed that door. Its latest filing says that if the separation is resumed, it would require further approvals, and whether it ultimately happens remains uncertain.
So what would you do?
Keep the portfolio together and invest behind it?
Or eventually separate the businesses and give each a sharper mandate?
