NEW YORK, Sept. 2 (Xinhua) -- U.S.-based multinational food company Kraft Heinz is splitting into two separate companies after a mega-merger 10 years ago, local media reported Tuesday.

The first will focus on shelf-stable foods, featuring brands like Heinz, Philadelphia, and Kraft Mac & Cheese, while the second will cover a wider range of goods, including brands such as Oscar Mayer, Maxwell House, Capri Sun and Lunchables.

Through the breakup, Kraft Heinz executives hope that the combined value of the two separate companies will exceed the firm's current valuation.

Kraft Foods and H.J. Heinz merged in 2015 in a deal led by the firms that controlled Heinz: U.S. investor and philanthropist Warren Buffett's Berkshire Hathaway and Brazilian private-equity firm 3G Capital.

But the merger has not worked out well. Due to years of high inflation, U.S. customers are increasingly choosing to buy private-label packaged foods. Smaller startups continue to pose fierce competition with new takes on familiar snacks and meals.

In February, Kraft Heinz CEO Carlos Abrams-Rivera announced the company was focusing its resources on faster-growing and more profitable products "to become a sauces and meals powerhouse."

By mid-2025, the company's shares had lost two-thirds of their value from the post-merger peak. ■