Report: 3G Capital in talks to acquire Kraft

(Image credit: David McNew/Getty Images)

3G Capital is said to be in advanced talks to acquire Kraft Foods Group Inc., which will then be merged with H.J. Heinz.

A person with knowledge of the discussions taking place told Bloomberg that the Brazilian private-equity firm could announce the deal next week. 3G Capital worked with Warren Buffett's Berkshire Hathaway Inc. to acquire Heinz two years ago. Kraft closed at $61.33 in New York trading Tuesday, with a market value of about $36 billion.

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Catherine Garcia has worked as a senior writer at The Week since 2014. Her writing and reporting have appeared in Entertainment Weekly, The New York Times, Wirecutter, NBC News and "The Book of Jezebel," among others. She's a graduate of the University of Redlands and the Columbia University Graduate School of Journalism.