3G Capital of Brazil is negotiating a deal to buy Kraft Foods, according to both the Wall Street Journal and Reuters news agency.
3G Capital teamed with Warren Buffet to buy H.J. Heinz, leading to the closure of the ketchup-producing plant at Leamington, Ont.
3G Capital was also behind the Burger King purchase of Tim Horton’s.
Kraft had disappointing financial results last year, so shook up its top management.
Besides being famous for cheese, Kraft has Oscar Mayer and Lunchables.
The deal is said to be worth $40 billion. The Heinz deal was $23.2 billion.