#food-brands

#food-brands

Kraft Heinz announced on Tuesday that new CEO Steve Cahillane will join the food giant to help steer its split into two companies. The former head of Kellanova joins the ailing food giant after years of declining sales and slow growth, and as shares are down 75% since 2017. In 2026, the company will split into two independent, publicly traded companies, Global Taste Elevation Co. and North American Grocery Co., with the first focused on condiments and the Heinz ketchup brand,

The Swanson brothers had no idea what they were setting into motion with that first turkey and stuffing meal in 1953. Believe it or not, those early renditions weren't even designed for the microwave - ovens were the go-to, since microwaves hadn't yet become a common household item. Fast forward to today, and frozen dinner brands span the entire freezer aisle (and then some). Some are health-focused, while others are products of well-known restaurant chains.

But shifting tastes complicated those plans, with households seeking to introduce healthier options at the table. Kraft Heinz and other food producers have tried to follow those trends. In 2021, Kraft Heinz sold both its Planters nut business and its natural cheese business, vowing to reinvest the money into higher-growth brands like P3 protein snacks and Lunchables. But the company continued to struggle, and Kraft Heinz's net sales fell 3% in 2024.

The brand was acquired by Rite Aid in 1996 and was primarily available through its stores since. The survival of subsidiaries like Thrifty had been in doubt.