Kraft Heinz aims to sell its baby food brand Plasmon

Global packaged food group Kraft Heinz is working with investment bank Houlihan Lokey to sell its Italy-based infant food product brand Plasmon, two sources close to the matter said on Tuesday.

Kraft Heinz tried to sell the Italian business back in 2019 but eventually decided to keep it.

Binding offers are expected by March, one of the sources added.

Asked for a comment, a Kraft Heinz spokesperson said the group does not comment on market speculation or rumours. Houlihan Lokey declined to comment.

The 123-year-old Plasmon sells a range of products including first milk, homogenized baby food, pasta and fruit compote for babies.

Plasmon is a well-known brand for baby food in Italy, where it realises most of its revenues. However, it has felt the impact of low birth rates in Italy over the past few years.

The Kraft Heinz Company is a leading American food company formed in 2015 by the merger of Kraft Foods and H.J. Heinz Company. With a portfolio of iconic brands, Kraft Heinz is one of the largest food and beverage companies in the world, operating in over 40 countries. The company’s diverse range of brands includes Kraft, Heinz, Oscar Mayer, Planters, and many others. One of Kraft Heinz’s notable brands is Plasmon, a leading Italian baby food company founded in 1902. Plasmon offers a wide range of baby food products, including cereals, fruit and vegetable purees, and snacks. With a strong presence in Europe, Plasmon is trusted by parents for its high-quality, nutritious products that cater to the unique needs of infants and toddlers. As part of the Kraft Heinz family, Plasmon continues to innovate and expand its offerings, solidifying its position as a leader in the baby food market.