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Report: Kraft Heinz mulls sale of Breakstone's business

The Kraft Heinz Co. has hired Royal Bank of Canada to review strategic options for its Breakstone's business, which sells sour cream, cottage cheese and butter, CNBC reported March 12, citing people familiar with the matter.

Breakstone's could get a valuation of about $400 million, CNBC added.

The report noted that the strategic assessment is part of a larger process to review the company's dairy business.

Kraft Heinz did not immediately respond to S&P Global Market Intelligence's request for comment.

The company is also reportedly exploring strategic options for its Maxwell House coffee brand. The options included a possible sale, which could fetch at least $3 billion for the company.

Kraft Heinz also sold its India operations and Canadian natural cheese business in 2018.