Pro-Palestinian encampment at Dalhousie University - May 13, 2024 | SaltWire #news #halifax #protest -Kraft Heinz is exploring a sale of its Oscar Mayer meats business that could fetch anything between $3 billion to $5 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter.
The Oscar Mayer business, known for hot dogs, bacon, ham, and bologna products, has had to deal with declining consumer demand in the face of a shift to healthier options.Kraft Heinz has tapped Bank of America and Centerview Partners to gauge interest in the business, the report said. While it is not clear as to who might be interested in purchasing the business, but potential buyers could include private-equity firms or other food-industry players, WSJ added.Kraft Heinz did not immediately respond to a request for comment.
Before its merger with H.J. Heinz in 2015, Kraft Foods had planned to spin Oscar Mayer into a separate segment in 2007. It has been our privilege to have the trust and support of our East Coast communities for the last 200 years. Our SaltWire team is always watching out for the place we call home. Our 100 journalists strive to inform and improve our East Coast communities by delivering impartial, high-impact, local journalism that provokes thought and action. Please consider joining us in this mission by becoming a member of the SaltWire Network and helping to make our communities better.
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