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Oct 30, 2025
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Jonathan Trimble's avatar

So true. The “conglomerate tax” is what I’ve heard used elsewhere of groups whose companies no longer have any cohesion or material shared cost structure, that then get valued by their weakest, ageing link. I think even broken up Kraft-Heinz will struggle to find that cohesion. The Heinz brand itself could probably be sold off for more than the group.