The current Corteva will become New Corteva and SpinCo, which will house the company’s crop protection and seed businesses, respectively, the company shared in a press release. “We appreciate that our customers want and need choice across their input decisions, including seed and [crop protections]. Why agrifood companies are splitting up, spinning out Corteva's split comes as a number of agrifood players, largely in the consumer packaged goods space, announce similar spin-offs or divestitures. Most notably, food giant Kraft Heinz announced that the company will split in two, nearly a decade after joining together. Investors appeared unconvinced on the split, as Corteva’s stock dipped sharply on the news, closing down roughly 9% on the day of the announcement.