Kraft Heinz abandons plans to separate because it describes present issues as ‘fixable and inside our management’

Kraft Heinz has scrapped plans to split in a surprise move as it described its problems as ‘fixable and within our control’.

The food giant, whose products range from Heinz baked beans to Capri Sun, announced a break-up in September to create one firm focused on groceries and another on sauces and spreads.

It came after it failed to achieve the kind of growth expected when Kraft and Heinz merged a decade ago.

Announcing the change of course, chief executive Steve Cahillane said: ‘We want to put 100 per cent of our focus, 100 per cent of our time, our people, our investment against returning the company to growth, and not be distracted by the massive amount of work required in separation.’

Shelved: Heinz baked-bean maker Kraft Heinz announced it was planning a break-up in September but has now abandoned the plan