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.
