Feb. 11 (UPI) -- The Kraft Heinz food company is halting its effort to split into separate companies and instead is focusing on fixing its business challenges with a $600 million investment.
Kraft Heinz Chief Executive Officer Steve Cahillane, in a prepared statement, on Wednesday said the company won't move forward with its prior plan to split into separate Kraft and Heinz business entities.
"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," he said.
"As a result, we believe it is prudent to pause work related to the separation," Cahillane added, "and we will no longer incur related dis-synergies this year."
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