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The Journal.

Kraft Heinz's Big Breakup

The Journal.

The Wall Street Journal

Daily News, Business News, News

4.25.3K Ratings

🗓️ 3 September 2025

⏱️ 20 minutes

🧾️ Download transcript

Summary

Get more information about our first-ever live show here! Tickets go on sale Friday, September 5, 10am ET!  Kraft Heinz, the huge company behind Oscar Mayer Hot Dogs, Heinz Ketchup and Kraft Mac and Cheese, is splitting in two. Behind this split is a private equity company, the MAHA movement, and the "historically bad deal” that merged Kraft and Heinz in the first place. WSJ's Jesse Newman tells Jessica Mendoza about what’s changing in America’s pantry. Further Listening:  Breakfast Battle: The Cereal Industry vs MAHA The Fight to Kick Soda Out of Food Stamps  Sign up for WSJ’s free What’s News newsletter.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Hey, it's Ryan. And Jess. Before we get into today's show, we have something exciting to announce.

0:07.9

We are hosting our first ever live show in New York City. We'll be at the Grand Mercy Theater on Tuesday, October 7th, and we want you to be there.

0:16.6

We'll have special guests, and I can promise you it'll be a fun night full of lively conversations about money, business, and power.

0:23.5

And Jess and I will hang out after the show to mingle and meet people. It's going to be a great time.

0:28.2

Tickets go on sale this Friday, September 5th at 10 a.m. Eastern at bit.ly slash journal live to 5.

0:36.3

You can find the link in our show notes.

0:38.7

Again, we'll be the Gramercy Theater in New York City on Tuesday, October 7th,

0:42.6

and tickets go on sale this Friday, September 5th.

0:45.9

Go to bit.ly slash journal live 25 to get your tickets.

0:51.3

We hope to see you there.

0:57.6

Jesse. to get your tickets. We hope to see you there. Jessie, I kind of want to start by asking you a controversial question that has split the

1:03.0

American public for decades. Yep, sure. My colleague Jesse Newman covers the food industry,

1:09.6

so I wanted to see if she could settle a big debate.

1:13.9

Does ketchup belong on a hot dog?

1:20.1

You will not be surprised to hear, or maybe you'll be surprised to hear, I don't eat hot dogs.

1:26.0

You don't eat hot dogs?

1:31.1

No, no. What? I'm vegetarian, so I don't eat hot dogs. You don't eat hot dogs? No, no. I'm vegetarian, so I don't eat hot dogs. Okay, that makes so much sense. So I don't really have a dog in this fight

1:37.9

personally. A literal, a hot dog in this fight? Exactly. Exactly. I don't really have a hot dog in

1:43.9

this fight personally. However, I can tell you, I do eat, you know, like a tofu version of that. And I'm, I'm, I am a mustard girl. I'm not a huge ketchup fan.

1:56.9

The reason I asked Jesse about hot dogs and ketchup is because the two are splitting up.

2:03.1

The headline of the story is that Kraft Hines, which is one of the country's biggest food conglomerates, is breaking up.

2:14.8

It is breaking itself into two.

...

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