Berkshire plans a "full liquidation" of its holdings in Kraft Heinz! Registered to sell 325 million shares, company stock price plunges.

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Kraft Heinz’s largest shareholder, Berkshire Hathaway, may be about to complete a near-total sell-off. This deal will mark the end of one of the most high-profile food investments of the Warren Buffett era.

According to regulatory filings Kraft Heinz submitted to the U.S. Securities and Exchange Commission, Berkshire Hathaway registered to sell up to 325.4 million shares of the company. Berkshire currently holds 325.6 million shares, according to FactSet data, meaning this sale will nearly cover its entire position.

After the news broke, Kraft Heinz’s stock price plunged 4.9% in after-hours trading. Investors’ concerns over the future prospects of this food company, once seen as a classic value investment, deepened further.

Berkshire Hathaway, holding more than 27% of Kraft Heinz shares, is the company’s largest shareholder. The disclosure of this sale plan comes just months after Kraft Heinz announced its breakup plan.

Performance pressure prompts split, undoing the 2015 mega-merger

Kraft Heinz has faced operational challenges in recent years. In September this year, the company announced it would split into two independent companies. This decision means the blockbuster Kraft and Heinz merger of 2015 will be undone. The deal was widely sensational at the time, combining two of America’s most iconic food brands.

Kraft Heinz owns signature products such as Heinz Ketchup and Kraft Mac & Cheese.

Berkshire Hathaway’s longtime leader Warren Buffett stated in September that Kraft Heinz’s separation plan would be costly and disruptive. Greg Abel, who succeeded Buffett as Berkshire Hathaway CEO in January, also made it clear to Kraft Heinz representatives that the investment group does not support the breakup plan.

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