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Berkshire Hathaway Prepares Exit from Kraft Heinz as Shares Drop
Berkshire Hathaway Prepares Exit from Kraft Heinz as Shares Drop
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BTCCSquare news:
Kraft Heinz shares fell 3.6% in premarket trading after Berkshire Hathaway filed paperwork indicating it may sell its entire 27.5% stake worth $7.7 billion. The potential divestment follows years of underperformance, with Warren Buffett calling the investment a mistake and Berkshire taking $6.76 billion in write-downs.
The MOVE comes as Kraft Heinz prepares to split into two companies by late 2026—a plan opposed by both new CEOs. Steve Cahillane took the helm at Kraft Heinz on January 1, the same day Greg Abel succeeded Buffett at Berkshire. The 2015 merger that created Kraft Heinz has struggled with stagnant sales and innovation challenges.
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