Billionaire investor Nelson Peltz has acquired 3% of Kraft (NYSE: KFT). According to news reports he will ask the company to sell Post Cereals and the Maxwell House coffee brand.
Mr. Peltz has risen to #278 on the Forbes Wealth List. Peltz is one of the kings of the leveraged buyout business and is considered an activist investor.
In 1997, Peltz paid $300 million for Snapple in 1997 and flipped it three years later for five times that. Recently, he purchased a stake in Heinz (NYSE: HNZ).
