The US food giant is in conversations with most of the major holding groups about its media business. Sources said it could appoint a single global agency, or could make appointments on a regional or local level.
Local market meetings are expected to take place in December and a result is not expected until April 2014. Although the company is based in the US, sources said the process is being run out of Heinz’ supply chain "hub" in the Netherlands.
The review does not affect the Heinz ad account, held by Abbot Mead Vickers BBDO in the UK.
Dentsu Aegis Network agency Vizeum, then part of Aegis Group, picked up the UK account in 2004 along with the business in the Netherlands and Portugal. Heinz works with lots of different agencies around the world including Cramer-Krasselt in the US.
The review follows Warren Buffet’s Berkshire Hathaway and the Brazilian investment fund 3G Capital buying Heinz earlier this year for $28 billion (£17.2 billion).
Spokesman for Heinz and Vizeum declined to comment.