Kraft Heinz Falls After Top Holder Offers $1.1 Billion of Stock

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(Bloomberg) -- The Kraft Heinz Co. fell 1.8% in postmarket trading on Wednesday after announcing one of its top holders was selling a portion of its stake.

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Affiliates of 3G Global Food Holdings LP are offering 30.6 million shares through Bank of America Corp., the company said in a statement. Shares are offered at $36.00 to $36.56 each, according to a person familiar with the matter, with pricing expected before the market opens on Thursday.

Kraft Heinz has gained 0.3% since boosting its full-year adjusted Ebitda forecast on Oct. 27 amid inflation headwinds. The stake offered by 3G is worth about $1.1 billion based on Wednesday’s closing price.

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