Buffett's Kraft Heinz Bet Marks a Rare Flop as Company Weighs Breakup

Warren Buffett touted the chance to bring “iconic brands together” in 2015 when he backed the creation of Kraft Heinz Co. The plans to split up many of those brands a decade later represent a rare flop for the famed investor.

Kraft Heinz shares are down more than 60% — while the broader stock market soared — since Buffett’s Berkshire Hathaway Inc. teamed up with private equity firm 3G Capital to merge the two consumer companies. Berkshire’s roughly 27% stake in the company is worth about $4.5 billion less than where it’s marked on its books, and getting out now would bring even more pain.