Kraft Heinz Co. is reportedly exploring a significant corporate restructuring, potentially splitting into two entities: a grocery division and a Taste Elevation segment.

With Kraft Heinz Co. reportedly considering a breakup of its business, some analysts believe more of its food-industry peers should do the same.

Kraft Heinz is preparing to break itself up in what could be its most significant restructuring since the company’s formation in 2015, The Wall Street Journal reported on Friday. Nearly a decade after the blockbuster merger between Kraft and Heinz—engineered by Warren Buffett’s Berkshire Hathaway and private equity firm 3G Capital—the packaged