- Kraft Heinz Company (KHC -3.2%) announces a plan to combine its U.S. and Canada businesses to create the North America Zone. For reporting purposes, the new zone is expected to be effective in the second fiscal quarter of 2022.
- Kraft (NASDAQ:KHC) says the rationale for the move is to advance its long-term, sustainable growth plans by bringing increased agility to its innovation agenda, operations and go-to-market approach.
- All told, KHC's U.S. and Canada businesses account for approximately 80% of total sales.
- Shares of Kraft Heinz (KHC) are lower on the day after a downgrade from Guggenheim set the early tone.