March 24, 2015 / 11:46 PM / 5 years ago

UPDATE 1-Private equity firm 3G Capital in talks to buy Kraft

(Adds background, details on the deal)

By Olivia Oran

March 24 (Reuters) - Private equity firm 3G Capital is in talks to acquire Kraft Foods Group Inc, a source familiar with the matter told Reuters on Tuesday.

The value of the deal was not immediately known. Kraft’s shares rose as much as 15 percent to $70.55 in trading after the bell.

The Wall Street Journal first reported on the possible deal.

3G Capital and Kraft were not available for comment outside regular U.S. business hours.

The Brazilian private equity firm had teamed up with Warren Buffett to buy ketchup maker H.J. Heinz Co for $23.2 billion last year, its last major takeover.

Based on Tuesday’s close at $61.32, Kraft had a market capitalization of $36.06 billion.

The company had 588.13 million shares outstanding as of March 2, according to Thomson Reuters data.

Shares of the company closed at $61.32 on Nasdaq on Tuesday. (Reporting by Olivia Oran in New York; Additional reporting by Anjali Rao Koppala in Bengaluru; Editing by Lisa Shumaker)

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