Wintrust Business Minute: Kraft Heinz is mum on reports of breaking up business

Steve Grzanich has the business news of the day with the Wintrust Business Minute.

There’s been no comment from Chicago-based Kraft Heinz about a report that it’s planning to break up its business. The Wall Street Journal first reported last week about a plan to spin off a large portion of the Kraft Heinz grocery business. The new entity would be valued at $20 billion. The split could be announced in weeks. It’s not clear how many of the company’s brands would be part of the new company or where it’d be based. Kraft Heinz sales have been down, and earlier this year the company said it was looking at strategic transactions to boost its stock price. Kraft Heinz owns the Kraft, Heinz and Oscar Mayer brands.

Also, a Chicago developer has a contract to buy Ford City Mall on the southwest side with plans to demolish the shopping center and build a warehouse complex. Listen for more below: