Kraft Heinz is reportedly preparing to spin off its Kraft-branded products in a move that could value the new entity at up to $20 billion, leaving the core business focused on sauces and condiments like Heinz ketchup.

CHICAGO ­— In what would mark the end of a notoriously unsuccessful business combination, The Kraft Heinz Co. is considering spinning off a large part of the grocery foods business acquired a decade ago with the merger of The H.J. Heinz Co. and Kraft Foods. News of the potentially impeding breakup was reported July 11 by The Wall Street Journal.