Although it has not been mentioned as a Buffett target, Mondelez (NasdaqGS: MDLZ) also fits the bill as the type of simple business Buffett craves. Berkshire also owned a small equity stake in that company at the end of the fourth quarter Mondelez is PBJ’s fourth-largest holding at a weight of 5.17%.

Last year, hedge fund manager Nelson Peltz, founder of Trian Fund Management, believes PepsiCo (NYSE : PEP) should acquire Mondelez International (NasdaqGS: MDLZ). [Peltz Pepsi Comments Lift Staples ETFs]

The Guggenheim S&P Equal Weight Consumer Staples ETF (NYSEArca: RHS) represents another option for investors to gain leverage to a possible Berkshire Food acquisition.

RHS, which is up 8.7% over the past 90 days, allocates a combined 7.7% of its weight to Kellogg, General Mills and Kraft, according to Guggenheim data.

PowerShares Dynamic Food & Beverage Portfolio