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The companies will evaluate regulatory issues and cost savings of a deal, according to a statement. The accord doesn’t assure a transaction will be proposed.

Following the breakup, one company will be made up of its Heinz Ketchup and other iconic condiments and boxed meals — a unit that currently generates $15.4 billion in sales.

The company is making structural changes to its teams across the U.S., interim CEO Ron Sargent said in a memo to staff on Aug. 26.

Last week, US Foods urged Performance Food to accept its invitation to explore a merger.

“Our ask of PFG is to simply work together to further understand the merits and opportunities of a potential combination,” US Foods CEO Dave Flitman said.

President Donald Trump said in a Truth Social post that Coca-Cola Co. has agreed to use cane sugar in Coke beverages sold in the U.S.

Ferrero International agreed to acquire WK Kellogg for an enterprise value of $3.1 billion, pushing the Italian family-owned candy business further into the lucrative U.S. market.

Walmart said shoppers are still spending about the same as they did a year or two ago, with a focus on food and essentials over discretionary purchases.

Dole says a proposal to curb China’s dominance of the maritime industry would have a big impact on bananas — and aggravate consumers already sensitive to higher prices at the grocery store.

Plans to impose duties on American agriculture imports will boost the price of fruit and vegetables as well as sugar, coffee and meat. Executives have said consumers are pinching pennies.