Kraft Heinz is preparing to break itself up, a decade after an infamous merger of two of the biggest names in packaged foods that was orchestrated by Warren Buffett and Brazilian private-equity firm 3G Capital Partners.

Kraft Heinz is looking to spin off a large chunk of its grocery business, including many Kraft products, into a new entity that could be valued at as much as $20 billion on its own, the Wall Street Journal reported on Friday.

Kraft Heinz’s stock value is down about 70 per cent since the highs it reached in 2017, when the company was seen as a pioneer in the industry. News of the potential break-up was first reported by the Wall Street Journal.