US food giant Campbell Soup could offload its UK and Irish operations, which include the Homepride sauces, OXO stock cubes and Batchelors soup brands.
Campbell Soup was founded in the US in 1869
The businesses had sales of about $490m (£282m) last year, but have not met Campbell's growth expectations.
The company said it was exploring "strategic alternatives" which could include selling the operations.
Campbell Soup said it was still committed to growing its profits both in North America and internationally.
"Our portfolio in the UK and Ireland includes some strong brands, but it is highly fragmented and has not met our company's growth expectations," said chief executive Douglas Conant.
The company has hired investment bank Goldman Sachs as an adviser.