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.
