Kraft Heinz Co. is preparing to break itself up, people familiar with the matter said, as the US food company looks to combat shifting consumer sentiment and reverse a sagging share price.

Kraft Heinz’s stock jumps after a Wall Street Journal report that the packaged-food giant is planning a breakup, 10 years after its megamerger.

A decade after the megamerger of Kraft and Heinz, the packaged food powerhouse is preparing to break up amid shifting consumer tastes and mounting financial pressure.