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Kraft Heinz takes Breakstone, Plasmon off the block

The food company will refocus its efforts on such brands as Heinz ketchup


Kraft Heinz is delaying selling its Breakstone’s sour cream and cottage cheese brands and baby food brand Plasmon after putting them up for sale earlier this year to help reduce its US$3 billion corporate debt due by 2020.

According to CNBC, Kraft Heinz has instead decided to refocus its business tactics on brands such as Heinz ketchup, which remains a kitchen staple in pantries globally. Kraft Heinz is still trying to sell its Maxwell House unit, however, but has seen pushback from private equity buyers wary of the investment that would be needed to reinvigorate the brand, anonymous sources familiar with the situation revealed to CNBC.

“Selling those brands was a short-term move. And while short-term-ism has driven Kraft Heinz’s stock and valuation over the past few years, that’s run its course. Now investors want to see real opportunity to drive the fundamentals and reinvigorate its business,” Wells Fargo analyst John Baumgartner told CNBC.

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