One company will focus on sauces, flavorings and spreadable toppings globally, such as Heinz ketchup and Philadelphia cheese, while the other company will focus on staple products sold in food stores in North America.
It has been over ten years since the two food giants merged, together they own over 200 brands sold in 150 countries. But the merger has not been a success. The company has had to struggle with both a falling stock price, 21 percent down in the last year, and decreased demand for certain products that are important to the company, writes WSJ.
The goal of the division is, among other things, to create companies that are more focused and less complex.
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