Investing.com -- Kraft Heinz (NASDAQ: KHC ) Co is preparing to break itself up by spinning off a significant portion of its grocery business, according to a Wall Street Journal report published Friday.

The food giant is looking to separate many Kraft products into a new standalone entity that could be valued at up to $20 billion, the report said, citing people familiar with the matter.

Following the split, Kraft Heinz would retain its sauce and spread products, including the company’s flagship Heinz ketchup and Grey Poupon Dijon mustard.

Kraft Heinz shares are gaining over 2.5% following the publication of the WSJ report.