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.
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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.
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