3G Capital raising $8 billion – $10 billion for M&A: Brazil Journal

Brazilian buyout firm 3G Capital is seeking to raise $8 billion to $10 billion through a new fund to finance an acquisition, website Brazil Journal said on Tuesday, citing sources close to the company.

The report cited 3G, which is partly owned by billionaire Jorge Paulo Lemann, as saying it would likely target a company in the consumer goods sector, without disclosing which.

There is market speculation that 3G wants to acquire Oreo-maker Mondelez International Inc (MDLZ.O) through its Kraft Heinz Co (KHC.O) unit, according to the news article.

At least 10 Brazilians have committed to invest a minimum of $100 million each in the new acquisition fund, the website said.

Reuters calls to 3G’s Rio de Janeiro office for comments went unanswered.

3G, known for pursuing aggressive cost-cutting strategies, last teamed up with Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) in 2013 to acquire H.J. Heinz and last year merged it with Kraft Foods.

Buffett also helped finance 3G’s merger of Burger King with Canadian donut chain Tim Hortons, creating Restaurant Brands International Inc (QSR.TO).