Kraft Heinz to sell historic Plasmon baby biscuits

US multinational Kraft Heinz is preparing to sell the Italian assets of Plasmon, the well-known brand of baby biscuits produced in the plant in Latina in the Lazio region.

Image credits: Plasmon

Four years since the merger between Kraft Foods and Heinz, the US multinational suffered a net loss of $12.6 million in the fourth quarter of the 2018 financial year.

This has mainly affected the best-known brands such as Heinz mayonnaise and ketchup, Philadelphia cheese and Plasmon biscuits and baby food, which have been hit by changes in consumer tastes.

The operation will mainly attract large private equity funds such as Advent, Investindustrial, Permira, Lion Capital and BC Partners and may be worth more than €700 million.

Plasmon currently posts annual revenues of around €200 million with gross profit of €50 million.