Kraft Heinz looking to sell baby food unit | Progresiv

Kraft Heinz has reportedly put its Plasmon baby food unit up for sale, as it looks to focus on its global brands. Plasmon, which is mainly based in Italy, sells a range of baby foods including first milk, pasta, fruit compote, and biscuits. It generated more than 200 million euros in revenue last year, on core profits of around 50 million euros.

According to Reuters, which cited unnamed sources, preliminary bids are due at the end of this week, with private equity firms and rival food groups amongst the interested parties. The sources added that the business could be worth up to 700 million euros.

Italian paper Il Sole 24 Ore added that Kraft Heinz has hired JPMorgan to advise on the sale. (www.kamcity.com)