According to a report by CNBC, so-called activist investors who pressure companies and management into improving performance, led by Nelson Peltz, may have honed in on food manufacturer H.J. Heinz as a likely target.

Peltz is chairman and chief executive of Triarc Cos, an investment banking and management group. He recently joined forces with other investors in placing pressure on Wendy’s International to separate its fast-food restaurants from the rest of its business and spin off Tim Horton’s doughnut chain. Triarc famously bought Snapple in 1997 and sold it to Cadbury Schweppes in 2000.

Heinz was unavailable for comment on the rumours.