Reported about 1 month ago
JBS, the Brazilian meatpacker, and Mexico's Sigma Alimentos are competing to acquire Kraft Heinz's Oscar Mayer, a hot-dog business valued at approximately $3 billion. This move comes as Kraft Heinz aims to realign its portfolio towards healthier food options amidst declining demand for processed products. Several buyers have expressed interest and submitted bids, with a deal anticipated in the coming weeks. Kraft Heinz seeks a valuation for Oscar Mayer equivalent to about 10 times its earnings.
Source: YAHOO