Warren Buffett's investment in Kraft Heinz (KHC) hasn't exactly gone as planned. KHC is one of the only Buffett stocks that's negative over the past 3-year and 10-year periods, and the billionaire investor himself has admitted that buying Kraft Heinz was one of his biggest investment mistakes. But things might be looking up for the company that makes everything from ketchup to mac and cheese.
Word is that Kraft Heinz is getting ready to sell its Oscar Mayer hot dog and lunch meat business for about $3 billion. Sources suggest they've got two interested buyers - JBS SA's Pilgrim's Pride Corp and Sigma Alimentos. This sale could help Kraft Heinz get back on track by focusing on what they do best. The global food industry is huge and getting bigger, with expectations to hit $12.24 trillion by 2024.
