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.