11:03 AM EST, 02/18/2025 (MT Newswires) -- (Updates with Kraft Heinz's ( KHC ) response in the fifth paragraph.)

Kraft Heinz ( KHC ) is cooperating with Houlihan Lokey to sell its Plasmon infant food product brand, Reuters reported Tuesday, citing two sources close to the matter.

Binding offers for the Italy-based business are expected by next month, the report said, citing one of the sources.

The global packaged food group attempted to sell Plasmon in 2019, but eventually decided to keep it, according to the report.

Kraft Heinz ( KHC ) didn't comment, Reuters reported, citing a company spokesperson. Houlihan Lokey also declined to comment, according to the report.

A Kraft Heinz ( KHC ) spokesperson told MT Newswires that the company doesn't comment on market speculation or rumors. Houlihan Lokey declined to comment when contacted by MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 29.15, Change: +0.22, Percent Change: +0.78