Global packaged food group Kraft Heinz is hoping to sell its baby food brand Plasmon, two sources said on Tuesday.
The sources said that the Heinz ketchup maker is working with investment bank Houlihan Lokey to sell the Italy-based infant food product brand.
Kraft Heinz tried to sell the Italian business in 2019 but eventually decided to keep it.
One of the sources said that bidding offers are expected by March.
When approached for comment, a spokesperson for Kraft Heinz 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, homogenised baby food, pasta and fruit compote for babies.
Plasmon is a well-known brand for baby food in Italy, where it earns most of its revenue.
However, it has felt the impact of low birth rates in Italy over the past few years.
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