Kraft Heinz says the separation – which comes a decade after the merger of Kraft Foods and H.J. Heinz – aims to maximize its capabilities and brands while reducing complexity.
After the acquisition closes, KDP plans to separate into two independent, U.S.-listed publicly traded companies, creating a refreshment beverage company and a global coffee company.
The potential acquisition comes as part of the company's strategic growth plan to further invest in specialty ingredient capabilities and diversify its portfolio of solutions.
The company has already invested $240 million in a Nature’s Bakery facility in Utah, as well as $450 million in a Royal Canin dry pet food facility in Ohio.
The company says it continues to evolve its business strategy, offer valuable upskilling programs and provide team members with long-term wealth-building opportunities.
Gardenia blue is the fourth color derived from natural sources approved by the FDA for use in foods as part of its aim to phase out the use of petroleum-based dyes.
The acquisition includes the manufacturing, marketing and distribution of WK Kellogg Co's portfolio of breakfast cereals across the United States, Canada and the Caribbean.
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