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Buffett’s firm dips into $23B Heinz ketchup deal
Associated Press ^ | Feb 14, 2013 10:50 AM EST | Candice Choi and Josh Funk

Posted on 02/14/2013 9:29:02 AM PST by Olog-hai

Billionaire investor Warren Buffett is dipping into the ketchup business as part of $23.3 billion deal to buy the Heinz ketchup company.

H.J. Heinz Co. says it’s the largest deal ever in the food industry. The company, based in Pittsburgh, also makes Classico spaghetti sauces, Ore-Ida potatoes and Smart Ones frozen meals.

Buffett's Berkshire Hathaway and its partner on the deal—3G Capital, the investment firm that bought Burger King in 2010—say Heinz will remain headquartered in Pittsburgh. Heinz CEO William Johnson said in a statement that the company “will have an opportunity to drive further growth” as a private enterprise. …

The company was founded by Henry John Heinz and his neighbor L. Clarence Noble in 1869. Their first product was grated horseradish, bottled in a clear glass to showcase its purity. The first ketchup was introduced in 1876; the company says it was the country's first commercial grade ketchup. …

(Excerpt) Read more at ...

TOPICS: Business/Economy; Chit/Chat; Food; Miscellaneous
KEYWORDS: 3gcapital; 57sauce; bakedbeans; berkshirehathaway; billionaires; buffett; buffettheinz; ethanol; heinz; heinzketchup; johnfnkerry; johnkerry; ketchup; mustard; vinegar; warrenbuffett

1 posted on 02/14/2013 9:29:07 AM PST by Olog-hai
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To: Olog-hai

Maybe John Kerry can use the money to pay the taxes on his yacht ?

Or is it Yachts at this point ?

2 posted on 02/14/2013 9:32:15 AM PST by Celerity
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To: Celerity

“Lovey! Celerity hurt my feelings. Buy me something Swiss.”

3 posted on 02/14/2013 9:41:47 AM PST by massgopguy (I owe everything to George Bailey)
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To: Olog-hai

Insist on Hunt’s.

4 posted on 02/14/2013 10:28:37 AM PST by afraidfortherepublic
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To: afraidfortherepublic

Good idea, since they’re owned by ConAgra, a bane of the libs.

5 posted on 02/14/2013 12:32:54 PM PST by Olog-hai
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To: Olog-hai

Let’s see. John Kerry is confirmed as Secretary of State. Two weeks later, Buffett buys Heinz. Who could know? Somebody call the SEC (KGB).
This crap writes itself.

6 posted on 02/15/2013 6:19:25 PM PST by coldbluesteel (Endo)
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