Kraft Heinz Co. is preparing to break itself up, people familiar with the matter said, as the US food company looks to combat shifting consumer sentiment and reverse a sagging share price.

A decade since they tied the knot, the Kraft Heinz union may be headed for splitsville. The packaged food conglomerate, which has been underperforming for years, is mulling a spinoff of a large portion of its grocery business.

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