Latest news with #Velveeta
USA Today
11 hours ago
- Sport
- USA Today
6 fantasy studs of the 2025 NFL preseason and whether they'll matter
The NFL preseason is overreaction time. When else can you get irrationally excited about a fifth string running back set to toil through the games that actually matter on the practice squad? Each August, the league presents us with the Velveeta of football -- not quite the real thing and occasionally disturbing, but good enough to get by in a pinch. These exhibitions rarely feature stars or even starters for long. Injury risk and the need to sort out a 53-man roster means we see plenty of young, hungry players looking to make their mark on Sundays. A few will. Others will be relegated to folk hero status before swapping out a wide range of practice jerseys over a few undistinguished years. Sometimes it's easy to figure out the difference between the two. Other times, a player who shines early never catches that luster again. Let's take a look at some of Week 2's biggest performers in the 2025 NFL preseason and where they land -- and whether or not these big August performances could pay off in your fantasy league. QB Caleb Williams, Chicago Bears Williams may be in the midst of a remarkable Year 2 glow-up. Former head coach Matt Eberflus spend three seasons proving he had no idea how to nurture a young, skilled dual-threat quarterback. In his place is Ben Johnson, who revived Jared Goff into an MVP candidate as offensive coordinator of the Detroit Lions. Goff and Williams have differing skillsets, but Goff's biggest strength as a Lion is fast processing and on-time deliveries to open windows -- something decidedly lacking from Williams' rookie year. Well, good news about that: Williams looked like the Heisman Trophy winner he once was in a game-opening 92-yard touchdown drive capped by a 36-year Olamide Zaccheaus catch-and-run. In fairness, backups Tyson Bagent and Austin Reed also carved up a deficient Buffalo Bills defense to the point where Bills head coach Sean McDermott seemed appalled. But after a season where Williams showcased many of the same flaws that derailed Justin Fields -- too many sacks (nearly 11 percent of his dropbacks), an eagerness to ditch designed plays under relatively minor threats of pressure, iffy processing -- this was a step forward. With a proven offensive mind at the helm and a lineup of explosive skill players, Williams could thrive in year two. Will it matter for my fantasy team? Absolutely. Williams' mobility is a fantasy plus, but while his 51 scrambles were second-most in the NFL it resulted in a modest rushing total (489 yards) and zero touchdowns. If he can tamp down that flight instinct and stand in the pocket it would not just boost his passing numbers but create more space for well-timed escapes from pressure. RB Zach Charbonnet, Seattle Seahawks Charbonnet finished Week 2 with only 45 yards, but that came on five carries and included a too-easy 15 yard touchdown run against a smattering of Kansas City Chiefs starters. With Kenneth Walker III out due to injury, Charbonnet stepped into the void and powered Sam Darnold's offense. All five of his carries came on the game's first drive. None ended with fewer than four yards, ripping off a 100 percent success rate across that small sample size. Will it matter for my fantasy team? Yes. Charbonnet remains in a timeshare with Walker in Seattle, he's made the case to absorb a larger workload after thriving this preseason. Walker's efficiency has waned the last two seasons after an explosive rookie debut. After producing 103 rushing yards over expected (RYOE) in 2022 he's languished in the negatives each of the previous two seasons. Iffy blocking played a role, but Charbonnet still found ways to thrive in stretches last fall (a career-high 73 RYOE). Charbonnet put up some big performances in Walker's absence. He also had a handful of clunkers. Stability may be within reach in his age 24 season -- especially with Grey Zabel looking like a full-time answer along the interior line. WR Isaac TeSlaa, Detroit Lions TeSlaa came to the NFL as a project. The former Division II star brought crazy measurables to the 2025 NFL Draft but modest high level production. He had 62 catches in two seasons after transferring to Arkansas but still managed to float up to the third round in a league that values inexpensive wideout production more than ever before. He's taken full advantage of the snaps provided this preseason -- and the Lions' questionable fortune of drawing the Hall of Fame game in Week 0. In three contests he's got eight catches, 105 yards and two touchdowns. This back-shoulder adjustment on a well-placed Kyle Allen lob? That doesn't look like a player still getting his bearings as an NFL wideout: TeSlaa has impressive size (6-foot-3) and speed (4.4-second 40) in an offense that scored more points than anyone else in 2024. Per The Athletic's Nick Baumgartner, he's developing a rapport with Jared Goff matched only by the Lions' *other* Pro Bowl targets. Will it matter for my fantasy team? Every now and then, probably. TeSlaa isn't just fighting against a steep learning curve. He's landed in a beneficial spot, but he's also at the bottom of a pecking order that also includes Amon-Ra St. Brown, Jameson Williams and Sam LaPorta. His size helps set him apart, but the Lions also have Tim Patrick to provide a big, beefy blocker and possession receiver toward the sideline. Factor in Detroit breaking in a new offensive coordinator and there could be some hiccups along the way. TeSlaa seems destined to contribute as a rookie, but he's headed for the "sleeper" pile as a player who can occasionally devastate with big games but also disappear for stretches. TE Gunnar Helm, Tennessee Titans Helm has made his mark as a rookie fourth round pick. The seventh tight end selected this spring had a big performance in Week 2; four catches, 48 yards and one impressive touchdown catch through double coverage to cap an impressive first half against the Atlanta Falcons. Helm has a well-rounded skill set and the chops to push incumbent Chig Okonkwo for starting snaps. He has the speed and size to create mismatches up the seam, but also the awareness of where to settle in zone coverage to exploit holes. So how will that translate when the games actually matter? Will it matter for my fantasy team? Probably not. Helm is facing the same tricky adjustment that limits most college tight ends in their NFL debuts. He's also working off a limited college resume. 2024 was the only season in which he had more than 14 catches in four years at Texas. On top of that, head coach Brian Callahan doesn't have much love for his tight ends. He spent five seasons as Cincinnati Bengals' offensive coordinator. Not once did he have a tight end with more than 500 receiving yards. In two separate seasons he didn't have one clear 400 yards. Okonkwo finished 2024 as the Titans' TE1 and averaged four targets and fewer than 30 receiving yards per game. WR Efton Chism III, New England Patriots No player in the NFL has more catches this preseason than Chism's 12. After a six catch, 50 yard, one touchdown day in his preseason debut, the undrafted rookie came back for six, 71 and another score in Week 2. The former Eastern Washington star is undersized (5-foot-10) and comparatively slow (4.71-second 40 speed), but has spent the preseason finding holes in coverage and, importantly, finishing catches through contact and showcasing elusive run-after-catch ability. The natural overreaction would be to compare Chism to another 5-foot-10, small school standout who was roundly overlooked at the draft. Chism has a long way to go before he can earn Julian Edelman praise, but the early returns are promising at the very least. Will it matter for my fantasy team? Probably not, but you can't rule out anything stupid when it comes to Patriots' wideouts. Chism was a priority addition for the Pats, securing one of the team's largest bonuses for an undrafted free agent. He gets to play for a dynamic young quarterback looking to leave his mark on the NFL in Drake Maye. He plays for a roster in dire need of receiving talent. But there's also a logjam among supporting wideouts in Foxborough. Demario Douglas takes most of his snaps from the slot, which is Chism's most natural position. Stefon Diggs has arrived to be the team's WR1, but Mack Hollins, Kayshon Boutte and a healthy Kendrick Bourne can compete for snaps further down Maye's wish list. Kyle Williams was a top 70 pick in this year's draft and will get the chance to fulfill that potential. 2024 draft picks Ja'Lynn Polk and Javon Baker, woeful as rookies, are competing for roster spots as well. And that's not everyone! Chism may have worked his way onto the roster, but working his way into regular targets is another uphill battle. WR Theo Wease Jr., Miami Dolphins It's possible no one had a better preseason week than Wease, who turned nine targets from Zach Wilson and Quinn Ewers into six catches, 80 yards and a pair of touchdowns. The undrafted rookie was a non-factor in Miami's opener, but has risen to exhibition prominence as a big body in a wideout room led by 5-foot-10 Tyreek Hill and Jaylen Waddle. Wease is still fighting an uphill battle to make the active roster, but his solid performance may have given him enough name recognition that the Dolphins don't risk hoping he'll slide through to their practice squad. He has solid top-line speed, and while his acceleration was iffy enough to leave him without suitors at this year's draft, his crisp routes and ability to adjust to a ball in flight could carve out a spot for him in Miami. Will it matter for my fantasy team? Nah. He could find a place on the roster as a developmental possession receiver with some over-the-top skills. However, it's tough to see him being more than a WR4 type in Mike McDaniel's offense without some injuries at the top of the card.
Yahoo
a day ago
- Lifestyle
- Yahoo
The Joanna Gaines Baked Spaghetti Recipe My Family Requests Every Week (It Has Lasagna Vibes!)
My kids, like most, would eat pasta every night if I let them. So when I was asked to test Joanna Gaines' Chicken Spaghetti recipe from her Magnolia Table cookbook, I thought, 'This is perfect! It'll be one fewer meal to figure out for the week!' In her intro to the recipe, Gaines says, 'Life is a lot easier when you've got a great go-to recipe for this classic one-pot Southern dinner.' And as a busy working mom, I'm a sucker for anything that promises to be a 'go-to' dish. This one is like an updated riff on mac and cheese. It's definite comfort food, but with a few elevated touches, including a mix of cheeses and some beautifully sautéed vegetables. How to Make Joanna Gaines' Chicken Spaghetti Even though there are several components to this recipe, the beauty of it is that it's still pretty straightforward. I started by preheating my oven to 350°F and oiling a 9×13-inch baking dish. It's a small step, but it helps everything flow smoothly later. While a big pot of generously salted water came to a boil for the spaghetti, I tackled the star of the show: the veggie-studded cheese sauce. In a deep skillet, I melted butter and then sautéed diced onion, minced garlic, and finely chopped red and yellow bell peppers until they were tender and fragrant. It's about six minutes of gentle cooking, and it fills your kitchen with the aroma of good things to come. The sliced baby bella mushrooms went in next for just two minutes; they add a bit of an earthy depth. Next, I stirred in cream, milk, chicken broth, and then the magic combination of cheeses — cream cheese (cut into pieces), grated white cheddar, and, yes, a little bit of processed cheese, like Velveeta. I wouldn't usually buy this product, but I was trusting Gaines and the process! I stirred (eventually switching to a whisk) until everything was thickened and creamy, then stirred in the shredded rotisserie chicken (my weeknight hero) and the cooked spaghetti, making sure every strand was coated in the luscious sauce. The whole mixture went into my prepared baking dish, and, like Gaines suggested, I even used my tongs to twirl the spaghetti into little nests (for what it's worth, it's charming but totally unnecessary). If you already thought there was a lot of dairy in this recipe, hold tight because I sprinkled it with even more shredded white cheddar before covering it and popping it into the oven. I baked it for 20 minutes covered, then about 8 minutes uncovered until it was lightly golden and bubbly. Just before serving, we topped it with fresh parsley. My Honest Review Joanna Gaines' Chicken Spaghetti lives up to its promise of being a 'go-to recipe,' but I see it being more suitable for special occasions or celebrations. The sauce is rich and luxe, with the combination of cream, milk, and broth providing a rich liquid base, and the inclusion of cream cheese, Velveeta, and white cheddar. The cream cheese adds tang and extra creaminess without the need for a roux, while the Velveeta ensures a smooth texture that standard cheddar alone can't quite achieve. It was decidedly rich. The recipe calls for heavy cream, but I used half-and-half because it didn't seem necessary. I was glad that I did, because it was pretty decadent, even with that slight adjustment. If you're lactose intolerant, though, this will be a hard pass. The vegetables are well-proportioned. It's enough to add flavor and color, but not enough to be considered a vegetable side. We served ours with steamed green beans and a fresh salad, but if you didn't want to create an extra side, I would add more vegetables. It could easily handle a lot more mushrooms and possibly even another pepper. Sautéing the bell peppers until tender is key to releasing their sweetness and aroma, but the baby bellas just need a quick hit in the pan because they finish cooking in the oven. The final result is a creamy, cheesy, hearty, and deeply satisfying meal that tastes like pure comfort. It's perfect for those nights when you want something that feels celebratory (or like a warm hug, come fall and winter). One of my favorite things about it is that the top layer of noodles gets slightly browned and a tiny bit crispy, like the edge pieces of lasagna. One thing to note is that it's not a quick meal. The recipe claims a 15-minute prep time, but I'm a very experienced cook and it took me between 30 and 40 minutes of active time. That said, once your mise en place is prepared, 15 minutes is a fair estimate. Tips for Making Joanna Gaines' Chicken Spaghetti Lighten up! If you want to reduce the fat content, you can swap the heavy cream for 5 percent cream or even use all milk. I haven't tried it with this recipe, but have done it with other similar recipes, and it's worked out well. It's not exactly the same, but the cream cheese will still provide plenty of richness and body to the sauce (although you may need to add a bit more salt and pepper to compensate, as the lighter dairy won't carry flavors quite as intensely). Always taste your sauce before mixing. This is crucial, whether you're making swaps or not. Once you've melted all the cheeses and created that gorgeous sauce, take a moment to taste it before adding the chicken and pasta. The saltiness can vary dramatically depending on the chicken broth and the type of cheese you're using. Upgrade your cheese game. While the original recipe is fantastic, you can certainly elevate it by mixing up the blend of cheeses. For example, I might try using a mix of cheddar and freshly grated Parmesan for a sharper, more complex flavor. Gruyère is another stellar option that melts beautifully and brings a slightly sweet, sophisticated taste. If you play around with the cheeses, I think you could eliminate the Velveeta entirely. Prep ahead for weeknight success. This recipe becomes so much more manageable when you do the prep work in advance. When I make it for guests, I'll likely spend a few minutes chopping all the vegetables, shredding the rotisserie chicken, grating the cheese, and cutting the cream cheese into pieces a day ahead. All of it can be stored in the fridge in airtight containers. Another one of my favorite tricks, in general, is to measure out the liquid ingredients ahead of time, too. In this case, measure out the cream, milk, and broth or chicken stock into a large glass jar and store it in the refrigerator. If you're using bouillon instead of prepared broth, add the water to the jar and toss in the bouillon cube when you pour the mixture into the pan. Having all these components ready makes the actual cooking feel like a breeze. Don't overcook the spaghetti. Cook it to a true al dente — it will continue to absorb liquid and cook in the oven, so if it's too soft initially it will become mushy in the final dish. Use a large skillet. When combining the sauce, chicken, and spaghetti, you'll need a very large, deep skillet or Dutch oven to accommodate everything for easy tossing. Alternatively, transfer everything into the pot you used to cook your pasta in. This isn't a minimalist pantry meal or a 20-minute dinner, but that's part of its charm. Whether you're making it for Sunday dinner, feeding a weeknight crowd, or preparing your next meal-train drop-off, this chicken spaghetti delivers that warm, home-cooked feeling we all crave when we need a little comfort.
Yahoo
a day ago
- Lifestyle
- Yahoo
The Joanna Gaines Baked Spaghetti Recipe My Family Requests Every Week (It Has Lasagna Vibes!)
My kids, like most, would eat pasta every night if I let them. So when I was asked to test Joanna Gaines' Chicken Spaghetti recipe from her Magnolia Table cookbook, I thought, 'This is perfect! It'll be one fewer meal to figure out for the week!' In her intro to the recipe, Gaines says, 'Life is a lot easier when you've got a great go-to recipe for this classic one-pot Southern dinner.' And as a busy working mom, I'm a sucker for anything that promises to be a 'go-to' dish. This one is like an updated riff on mac and cheese. It's definite comfort food, but with a few elevated touches, including a mix of cheeses and some beautifully sautéed vegetables. How to Make Joanna Gaines' Chicken Spaghetti Even though there are several components to this recipe, the beauty of it is that it's still pretty straightforward. I started by preheating my oven to 350°F and oiling a 9×13-inch baking dish. It's a small step, but it helps everything flow smoothly later. While a big pot of generously salted water came to a boil for the spaghetti, I tackled the star of the show: the veggie-studded cheese sauce. In a deep skillet, I melted butter and then sautéed diced onion, minced garlic, and finely chopped red and yellow bell peppers until they were tender and fragrant. It's about six minutes of gentle cooking, and it fills your kitchen with the aroma of good things to come. The sliced baby bella mushrooms went in next for just two minutes; they add a bit of an earthy depth. Next, I stirred in cream, milk, chicken broth, and then the magic combination of cheeses — cream cheese (cut into pieces), grated white cheddar, and, yes, a little bit of processed cheese, like Velveeta. I wouldn't usually buy this product, but I was trusting Gaines and the process! I stirred (eventually switching to a whisk) until everything was thickened and creamy, then stirred in the shredded rotisserie chicken (my weeknight hero) and the cooked spaghetti, making sure every strand was coated in the luscious sauce. The whole mixture went into my prepared baking dish, and, like Gaines suggested, I even used my tongs to twirl the spaghetti into little nests (for what it's worth, it's charming but totally unnecessary). If you already thought there was a lot of dairy in this recipe, hold tight because I sprinkled it with even more shredded white cheddar before covering it and popping it into the oven. I baked it for 20 minutes covered, then about 8 minutes uncovered until it was lightly golden and bubbly. Just before serving, we topped it with fresh parsley. My Honest Review Joanna Gaines' Chicken Spaghetti lives up to its promise of being a 'go-to recipe,' but I see it being more suitable for special occasions or celebrations. The sauce is rich and luxe, with the combination of cream, milk, and broth providing a rich liquid base, and the inclusion of cream cheese, Velveeta, and white cheddar. The cream cheese adds tang and extra creaminess without the need for a roux, while the Velveeta ensures a smooth texture that standard cheddar alone can't quite achieve. It was decidedly rich. The recipe calls for heavy cream, but I used half-and-half because it didn't seem necessary. I was glad that I did, because it was pretty decadent, even with that slight adjustment. If you're lactose intolerant, though, this will be a hard pass. The vegetables are well-proportioned. It's enough to add flavor and color, but not enough to be considered a vegetable side. We served ours with steamed green beans and a fresh salad, but if you didn't want to create an extra side, I would add more vegetables. It could easily handle a lot more mushrooms and possibly even another pepper. Sautéing the bell peppers until tender is key to releasing their sweetness and aroma, but the baby bellas just need a quick hit in the pan because they finish cooking in the oven. The final result is a creamy, cheesy, hearty, and deeply satisfying meal that tastes like pure comfort. It's perfect for those nights when you want something that feels celebratory (or like a warm hug, come fall and winter). One of my favorite things about it is that the top layer of noodles gets slightly browned and a tiny bit crispy, like the edge pieces of lasagna. One thing to note is that it's not a quick meal. The recipe claims a 15-minute prep time, but I'm a very experienced cook and it took me between 30 and 40 minutes of active time. That said, once your mise en place is prepared, 15 minutes is a fair estimate. Tips for Making Joanna Gaines' Chicken Spaghetti Lighten up! If you want to reduce the fat content, you can swap the heavy cream for 5 percent cream or even use all milk. I haven't tried it with this recipe, but have done it with other similar recipes, and it's worked out well. It's not exactly the same, but the cream cheese will still provide plenty of richness and body to the sauce (although you may need to add a bit more salt and pepper to compensate, as the lighter dairy won't carry flavors quite as intensely). Always taste your sauce before mixing. This is crucial, whether you're making swaps or not. Once you've melted all the cheeses and created that gorgeous sauce, take a moment to taste it before adding the chicken and pasta. The saltiness can vary dramatically depending on the chicken broth and the type of cheese you're using. Upgrade your cheese game. While the original recipe is fantastic, you can certainly elevate it by mixing up the blend of cheeses. For example, I might try using a mix of cheddar and freshly grated Parmesan for a sharper, more complex flavor. Gruyère is another stellar option that melts beautifully and brings a slightly sweet, sophisticated taste. If you play around with the cheeses, I think you could eliminate the Velveeta entirely. Prep ahead for weeknight success. This recipe becomes so much more manageable when you do the prep work in advance. When I make it for guests, I'll likely spend a few minutes chopping all the vegetables, shredding the rotisserie chicken, grating the cheese, and cutting the cream cheese into pieces a day ahead. All of it can be stored in the fridge in airtight containers. Another one of my favorite tricks, in general, is to measure out the liquid ingredients ahead of time, too. In this case, measure out the cream, milk, and broth or chicken stock into a large glass jar and store it in the refrigerator. If you're using bouillon instead of prepared broth, add the water to the jar and toss in the bouillon cube when you pour the mixture into the pan. Having all these components ready makes the actual cooking feel like a breeze. Don't overcook the spaghetti. Cook it to a true al dente — it will continue to absorb liquid and cook in the oven, so if it's too soft initially it will become mushy in the final dish. Use a large skillet. When combining the sauce, chicken, and spaghetti, you'll need a very large, deep skillet or Dutch oven to accommodate everything for easy tossing. Alternatively, transfer everything into the pot you used to cook your pasta in. This isn't a minimalist pantry meal or a 20-minute dinner, but that's part of its charm. Whether you're making it for Sunday dinner, feeding a weeknight crowd, or preparing your next meal-train drop-off, this chicken spaghetti delivers that warm, home-cooked feeling we all crave when we need a little comfort.
Buzz Feed
28-07-2025
- Politics
- Buzz Feed
Video Shows Trump Possibly Cheating On Golf Course
President Donald Trump was accused of cheating during his golf round on Sunday by the gallery, otherwise known as the internet. The viral video shared by anti-right-wing site PatriotTakes shows the president's caddie casually dropping a ball away from higher grass near a bunker. That prompted observers to allege the once-dubbed 'commander in cheat' took liberties for an easier shot at Trump Turnberry in Scotland. Trump working hard to bring down grocery prices — PatriotTakes 🇺🇸 (@patriottakes) July 27, 2025 @patriottakes / Via Twitter: @patriottakes Among the possible violations for shady play that emerged: A caddie is not allowed to drop the ball after a player takes a drop for hitting a ball into an unplayable situation. And if this isn't a drop and merely a ploy to improve the position of a playable ball, Trump would be defying 'a central principle' of the game: ' play the ball as it lies.' The clip doesn't show what ensued, but Trump carries baggage on the course (if not his clubs). Commander in Cheat: How Golf Explains Trump, author Rick Reilly said that Trump ' cheats like a mafia accountant.' As for the titles Trump has claimed to win, they're 'as fake as Velveeta cheese,' according to Reilly. Sometimes, other people make unbelievable boasts about Trump, such as the time Kevin O'Leary claimed Trump, then 78, shot a 68. Here are other comments about Sunday's round that would probably tee off the president: Trump's shameless golf cheating, having his caddie drop a ball for a better lie outside the bunker, exposes the same fraudulent tactics he employs in politics, proving once again he's a con artist through and through. — Richard Angwin (@RichardAngwin) July 27, 2025 @RichardAngwin / Via This is how you win 30 club championships. — Seth Bayles (@BaylesLawGroup) July 27, 2025 @BaylesLawGroup / Via Anything worth winning is worth cheating for — John Collins 🇨🇦 (@JohnCollins2x) July 27, 2025 @JohnCollins2x / Via Undeniable proof that Trump cheats at golf. — Sisyphus Unleashed. Slava Ukraini! 🇺🇦👊🇺🇦 (@SisyphusUnleas) July 27, 2025 @SisyphusUnleas / Via Watch it carefully, the caddy drops the ball for him. Trump has to cheat at his own course. — Hal_For_NY__ (@HalforNY__) July 27, 2025 @HalforNY__ / Via Look at the guy dropping the ball. Is there anything he doesn't cheat in?? Lmao — Dj Omega Mvp (@DjOmegaMVP) July 27, 2025 @DjOmegaMVP / Via — Mike Hunt (@harrismagnum4) July 27, 2025 @harrismagnum4 / Via
CTV News
21-07-2025
- Business
- CTV News
Kraft Heinz seeks to revive old brands by undoing 2015 mega-merger
The Kraft logo appears outside of the headquarters on in Northfield, Ill. on Wednesday, March 25, 2015. (AP / Nam Y. Huh) Kraft Heinz's potential spinoff of slower-growing brands such as Velveeta cheese is a risky last-ditch effort to boost returns by reversing its unsuccessful decade-old merger. The Chicago- and Pittsburgh-based foodmaker is studying a potential spinoff of a large chunk of its grocery business, including many Kraft products, into a new entity, a source said on July 11, confirming a report in the Wall Street Journal. That entity could be valued at up to US$20 billion on its own, which would make it the biggest deal in consumer goods so far this year. The company declined to comment on the move. Shares in the food maker have lost about two-thirds of their value since Kraft and H.J. Heinz merged in 2015 in a deal backed by Warren Buffet's Berkshire Hathaway that was aimed at cutting costs and growing the brands internationally. U.S. consumers, however, have been spending less on increasingly expensive name-brand packaged food after the pandemic. In addition, Kraft Heinz's convenience-oriented products like its Lunchables meal kit face scrutiny in the United States, its biggest market, amid the rise of the Make America Healthy Again or MAHA social movement led by U.S. Health Secretary Robert F. Kennedy Jr. The $33.3 billion market-cap company said in May that it was 'evaluating potential strategic transactions to unlock shareholder value' as executives from Berkshire Hathaway left its board, most likely after losing faith in the food maker, bankers said. The potential move, yet to be confirmed by Kraft Heinz, would likely undo the approximately $45 billion 2015 merger, though the details of how the company's roughly 200 brands would be split up are unclear. It also is not a sure bet for investors, because they would reap the most value only if acquirers step in to buy either of the new companies, analysts said. Kraft Heinz's condiments division, led by ketchup brand Heinz and Philadelphia cream cheese, posted $11.4 billion in sales last year and has room to grow internationally. On a standalone basis, it would likely command a higher multiple than what the overall company is currently trading at, making it more valuable, analysts and bankers said. The rest of Kraft Heinz's products - with sales of $14.5 billion from legacy brands such as Oscar Mayer which face competition from cheaper private-label options - would likely be valued in line with the whole company, which currently trades just below nine times its earnings. Kraft Heinz did not immediately return a request for comment. Risky path This path is dicey because the separation alone may create only a small benefit for investors, according to analysts and investment bankers. Bigger returns hinge on Kraft Heinz eventually finding a buyer - and a premium - for either of its two businesses. 'It doesn't look like there's a whole lot of upside,' said Bank of America analyst Peter Galbo. 'It really is reliant on an acquisition down the line.' Kraft Heinz's board and management may have looked at the breakup of the Kellogg Co as a success story they could replicate, investment bankers said. Earlier this month, European candy maker Ferrero agreed to acquire Kellogg Co's cereal business, WK Kellogg KLG.N, for $3.1 billion. Last year, Mars scooped up Kellogg Co's other business, Pringles maker Kellanova K.N, for about $36 billion. Possible acquirers for the condiments business could be spice and hot sauce-maker McCormick Co MKC.N, Unilever ULVR.L or Nestle NESN.S, investment bankers said. McCormick declined to comment. Unilever and Nestle did not respond to requests for comment. The slower-growing Kraft-oriented business could meanwhile garner interest from another company that wants to build up its clout with grocers like Walmart WMT.N and KrogerKR.N, said Dave Wagner, a portfolio manager at Aptus Capital, which holds Kraft Heinz shares in an exchange-traded fund. But Wagner said finding buyers in a challenged segment may not be easy. Sales across the entire food maker fell 3% in 2024, and the company slashed its forecasts for sales and profit for the rest of this year. 'If you keep the company as it is now or split it, both are going to have some type of black eye,' Wagner said. 'They probably wouldn't be tier one acquisition targets.' (Reporting by Jessica DiNapoli and Abigail Summerville in New York. Editing by Lisa Jucca and Matthew Lewis)
