Kraft Heinz Nears Deal to Break Up: WSJ

Kraft Heinz is closing in on a plan to break itself up, The Wall Street Journal reported Friday.

The transaction, aimed to split the company into two separate units focusing on grocery and sauces, respectively, could be finalized and announced as early as next week, the report said, citing people familiar with the matter, who added that plans and timing could still change at the last minute.

Kraft Heinz did not immediately respond to a Reuters request for comment.

Shares of the company were up 2% in afternoon trading.