The Kraft Heinz Co. could sell off the business behind the Wienermobile, Wiener Whistles and the “My bologna has a first name …” jingle, according to a report in the Wall Street Journal and further shared by Reuters today.
The iconic Oscar Mayer business has long sold hot dogs, bacon and lunchmeats — and may very well be departing Kraft Heinz’s portfolio after decades in the same portfolio as Kraft products.
The sale — which reports say is simply at the exploratory level currently and may not even happen — could bring anywhere from $3 billion to $5 billion. The WSJ report noted that the company has tapped Bank of America and Centerview Partners to gauge interest, and others in the private equity and food industry could emerge as potential buyers of the business.
The Oscar Mayer business was founded in the late 1800s in Chicago; the company moved its headquarters to Madison, Wis., in the 1950s, and it has changed ownership a couple times since 1981, though it has been tied to the Kraft foods business for more than 30 years. Its operations were moved out of Madison to Kraft’s offices in 2015, when Kraft merged with H.J. Heinz — and Oscar Mayer went along for the ride, of course.
At presstime, Kraft Heinz had yet to comment on any of the reports. Meanwhile, it has been “business as usual” for the Oscar Mayer R&D team, which just launched a new line of Stuffed Dogs: three varieties of hot dogs stuffed with various cheeses and flavors, including Jalapeño Cheddar, Chili Cheese, and Cheese.
