3G Capital Targets Up To $10B For Mega-Deal

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3G Capital is seeking between $8 billion and $10 billion for a new fund to co-invest in the purchase of a major consumer goods company, according to a report in the Brazil Journal. It’s an item chock full of big names: 3G is controlled by Brazilian billionaire Jorge Paulo Lemann. Investors in the new fund reportedly include tennis legend Roger Federer and model Gisele Bündchen. And the fund’s two rumored targets for a potential takeover are General Mills and Mondelez International, best known as the maker of Oreo cookies. It’s believed any acquisition would be conducted through Kraft Heinz (NASDAQ: KHC), the food conglomerate in which 3G already owns a 24% stake.

The fundraising is a typically bold play for Lemann and 3G, following on the heels of massive deals to acquire Burger King (2010), Heinz (2013) and Kraft (2014). The success of those deals is surely part of the reason for the stock bump General Mills and Mondelez each saw Tuesday afternoon—although share prices for both fell again Wednesday in the wake of the US election.

Article by PitchBook


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