Kraft Heinz (NASDAQ: KHC) is exploring a potential spinoff of a significant portion of its grocery business, including iconic Kraft-branded products, into a standalone entity that could be valued at up to $20 billion,

Kraft Heinz is taking the macaroni & cheese out of its ketchup business in a mega-split after its infamous 2015 merger, according to a new report. The mammoth packaged foods company plans to spin off a big portion of its business, which includes Kraft products, into a new firm, The Wall Street Journal reported Friday, citing people familiar.

The packaged-foods giant is preparing to break itself up, according to a report in The Wall Street Journal. Shares turned higher on the news, rising 2.5% on the da