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Kraft Heinz is reportedly shopping Ore-Ida, the frozen-potato unit that gave birth to the tater tot, according to CNBC.
The center-store brand giant has hired investment broker Evercore Partners to explore a deal, CNBC reports. Ore-Ida could fetch up to $2 billion in cash that its heavily indebted parent could use.
The thinking at Kraft Heinz, which recently named a new CEO, is that frozen potatoes are more vulnerable to private-label and other competition than established center-store brands like Heinz ketchup. CNBC reports that Kraft Heinz is also thinking of selling its other frozen business like Smart ones and Devour meals and sides.
By Pan Demetrakakes, Senior Editor
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