Global packaged food group Kraft Heinz, in collaboration with investment bank Houlihan Lokey, is in the process of selling its Italy-based infant food brand Plasmon, as reported by two sources familiar with the situation on Tuesday.
In 2019, Kraft Heinz attempted to sell the Italian business without success.
According to one of the sources, binding offers for Plasmon are anticipated by March.
When approached for a comment, a spokesperson for Kraft Heinz stated that the group refrains from discussing market speculation or rumors. Houlihan Lokey chose not to provide a statement.
Established 123 years ago, Plasmon offers a variety of products such as first milk, homogenized baby food, pasta, and fruit compote for infants. The brand is highly recognized for baby food in Italy, its primary revenue market. Nevertheless, it has been affected by declining birth rates in the country in recent years.