Kraft Heinz Co. is considering a breakup plan nearly a decade after the merger orchestrated by Warren Buffett and 3G Capital Partners in 2015. The company is exploring the possibility of spinning off a large portion of its grocery business, including many Kraft products, into a separate entity that could be valued at up to $20 billion. This new entity would retain the sauces and spreads segment, including Heinz and Grey Poupon. The potential breakup follows sluggish sales and changing consumer preferences, with Kraft Heinz shares rising by around 2.5% to 3% following the reports. Analysts have noted that this move is part of a broader trend in the food industry, where companies are breaking up or restructuring to unlock shareholder value. The breakup plan mirrors recent strategic actions by other food companies, such as Kellogg's recent spinoff, and reflects investor sentiment that the original merger has underperformed, with Kraft Heinz shares down approximately 60% since the merger. Bond investors are also positioning themselves in anticipation of the company’s next steps, as the firm evaluates which brands may be winners or losers in the new structure. Some analysts suggest that shareholders might eventually need to consider a sale to maximize value from the company's diverse food businesses.