Berkshire reduces investment in Kraft Heinz by another $3.8 billion

On August 2, Jin10 data reported that Berkshire Hathaway has written down its investment in Kraft Heinz by $3.8 billion, marking a severe challenge to Buffett's iconic consumer goods deal made in 2015. This is the second time Berkshire has impaired the assets of the company after a $3 billion write-down in 2019. As of the end of June, Berkshire has reduced the carrying value of the investment to $8.4 billion. This investment has been a rare disappointment for Buffett. Although the investment is still profitable, the stock price of the packaging food giant has fallen by 62% since the merger of Kraft and Heinz in 2015. During the same period, the S&P 500 index has risen by 202%. Currently, Kraft Heinz is considering splitting off some of its businesses to address challenges such as inflation suppressing consumer demand and the impact of health food trends.