US-based peanuts-to-ketchup maker Kraft Heinz has declined to comment on reports that it is preparing to mount a takeover bid for consumer giant Colgate-Palmolive.
Speculation of a possible deal mounted after the New York Post reported that US billionaire investor Warren Buffett, who with Brazil-based private-equity group 3G Capital owns a majority stake in Kraft Heinz, is among potential suitors for Colgate.
According to the New York Post, Colgate CEO Ian Cook has recently “indicated to institutional investors he would be interested in selling the company”.
However, a spokesperson for Kraft Heinz told just-food today (18 May) the company “has no comment” on the report.
Jeffries analysts Martin Deboo said today his money was on Unilever – which recently rejected a buyout offer from Kraft Heinz – as the most likely bidder for Colgate-Palmolive. “We continue to view Colgate, along with many in the market, as a highly attractive, once-in-a-lifetime deal for Unilever,” Deboo said.