Buffett's Berkshire Hathaway, 3G Capital to buy Heinz
In a surprise announcement this morning (14 February), Heinz agreed to be bought by Warren Buffett's Berkshire Hathaway fund and private-equity firm 3G Capital for US$28bn - the largest-ever takeover in the food sector.
Heinz stunned the global food industry with news it had agreed to a US$28bn takeover offer from Warren Buffett's Berkshire Hathaway fund and private-equity firm 3G Capital - purported to be the largest-ever deal in the sector. Dean Best looks at what could lie ahead for the US food giant.
The US Securities and Exchange Commission has launched legal action against unknown traders over claims they broke rules when trading in Heinz options before the US$28bn deal to buy the food giant was announced.
Heinz chief Bill Johnson today (14 February) insisted the US food giant has the potential to get "bigger and better" under the ownership of investment funds Berkshire Hathaway and 3G Capital.
Famed US investor Warren Buffett today (14 February) labelled Heinz as his "kind of company" after his Berkshire Hathaway fund struck a deal to pay US$28bn for the ketchup giant.
Heinz has agreed to be bought by Warren Buffett's Berkshire Hathaway fund and private-equity firm 3G Capital for US$28bn - the largest-ever takeover in the food sector.
- Dairy in India: No quick win for multinationals
- How Windsor buy is part of Ajinomoto's global push
- Dairy in India: How to win over Indian consumers
- Interview: Peter Meek, MD of Chobani Australia
- Focus: Fonterra's bid to weather dairy volatility
- Nestle forms new unit to "leverage scale"
- Nestle sells baby food brands Alete, Milasan
- General Mills to slash up to 800 more jobs
- Kerry, Premier team up on frozen NPD in UK
- PepsiCo eyes Middle East growth with R&D centre