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

CHICAGO ­— In what would mark the end of a notoriously unsuccessful business combination, The Kraft Heinz Co. is considering spinning off a large part of the grocery foods business acquired a decade ago with the merger of The H.J. Heinz Co. and Kraft Foods. News of the potentially impeding breakup was reported July 11 by The Wall Street Journal.

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