(Reuters) -Kraft Heinz ( KHC ) will split into two listed companies, one focused on groceries and the other on sauces and spreads, undoing a decade-old merger as the packaged foods maker aims to revive growth after years of sluggish sales.

The 2015 merger was spearheaded by Warren Buffett's Berkshire Hathaway and Brazilian private equity firm 3G Capital. Hathaway owns a 27.5% stake and is the largest shareholder in the company, according to data from LSEG.

Following are comments from company executives, analysts and investors and industry leaders on the split:

MIGUEL PATRICIO, EXECUTIVE CHAIR OF KRAFT HEINZ BOARD

"The complexity of our current structure makes it challenging to allocate capital effectively, prioritize initiatives and drive scale in our most promising areas.

"By separating into two companies, we can allocate the right level of attention and resources to unlock the potential of each brand to drive better performance and the creation of long-term shareholder value."

WARREN BUFFETT, CHAIRMAN, BERKSHIRE HATHAWAY

"Disappointed" with the split, Buffett tells CNBC. The merger did not turn out to be a brilliant idea, but taking the company apart will not fix its problems.

"We will proceed to do whatever we think is in the best interest of Berkshire."

BRIAN MULBERRY, SENIOR PORTFOLIO MANAGER AT ZACKS INVESTMENT MANAGEMENT

"Overall, the split will address some long lingering complaints around efficiency, giving each company more control over the biggest drivers of cost. If successful, reducing costs and elevating new products could be strong drivers of growth for both companies."

"The key will be around future earnings per share (EPS) growth and organic revenues."

RUSS MOULD, INVESTMENT DIRECTOR AT AJ BELL

"Confirmation from Kraft Heinz ( KHC ) that it is to split itself in two is the latest move in a somewhat embattled consumer staples industry, to conjure up growth and unlock value."

"The aim is to compete more effectively at a time when input costs remain a challenge, demand is trending away from processed foods and hard-pressed consumers may be tempted to spend more carefully, either by cutting consumption or trading down through brands."

MICHAEL LAVERY, SENIOR RESEARCH ANALYST, PIPER SANDLER

"Kraft Heinz ( KHC ) expects better growth opportunities for Global Taste Elevation Co(sauces and spreads unit), including in foodservice, but we see challenges for North America Grocery in foodservice, unless Kraft Heinz ( KHC ) significantly reinvents those brands."

SCOTT MARKS, EQUITY ANALYST, JEFFERIES

"For North American Grocery, given that profitability is declining, and the brands face long-term weaker consumption trends, questions remain on how profit will be sustained / recovered. Net net, while the split addresses portfolio complexity and should allow for more focused strategies, questions remain around the true growth and margin potential for both new companies."

(Reporting by Savyata Mishra, Juveria Tabassum, Akash Sriram in Bengaluru; Editing by Sriraj Kalluvila)