Valor Econômico cited unnamed industry sources in reporting that U.S.-based PepsiCo had made two bids, the second of which was about 6 billion reais ($1.9 billion). It said the current owner, J&F Investimentos Ltda, had not agreed on the value of a deal.
J&F, which also owns meatpacker JBS SA (JBSS3.SA) and wood pulp producer Eldorado Brasil Celulose SA, has sought competing bids from other companies such as French Group Lactalis, the controlling owner of Parmalat (PLT.MI), according to Valor.
Newspaper O Estado de S. Paulo reported Mexico’s Grupo Lala SAB (LALAB.MX) also had eyed the possible acquisition.
PepsiCo told Reuters in an email that it did not comment on rumors or speculation. Representatives for J&F, Lactalis and Lala did not immediately respond to requests for comment.