Kraft Heinz might be looking to sell its Oscar Mayer division, according to a recent report from the Wall Street Journal.
Though the business could bring in something in the neighborhood of $3 billion to $5 billion, say WSJ sources, it is possible there will be no transaction at all. Potential buyers, however, could range from private equity firms to other food industry players.
Carlos Abrams-Rivera took over as the new CEO of Kraft Heinz at the beginning of this year, as Miguel Patricio transitioned to non-executive chair of the board. It has been Abrams-Rivera’s task to rejuvenate a stock that has done little in the past five years, WSJ says, and to take a new look at the company’s portfolio in light of growing health and nutrition concerns from consumers.
 | Kraft Heinz Names Carlos Abrams-Rivera as Incoming CEO |
Amid this, WSJ reports, Kraft Heinz has asked Bank of America and Centerview Partners to gauge interest in the business.
Abrams-Rivera is looking to make the company’s products healthier, in part by cutting sodium and sugar, aiming to offer healthier options of many of its products, including its ketchup and juices.
| | Kraft Heinz Shakes Up Executive Leadership Team |
Kraft Heinz has also been working to recover market-share losses in Oscar Mayer’s cold-cut sector, according to WSJ.
