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Keyword: buffettheinz

Brevity: Headers | « Text »
  • Buffett’s firm dips into $23B Heinz ketchup deal

    02/14/2013 9:29:02 AM PST · by Olog-hai · 5 replies
    Associated Press ^ | Feb 14, 2013 10:50 AM EST | Candice Choi and Josh Funk
    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....
  • Buffett pulls off fresh blockbuster with $23 billion Heinz deal

    02/14/2013 8:23:15 AM PST · by South40 · 30 replies
    Reuters ^ | 2/14/2013 | Ben Berkowitz and Martinne Geller
    (Reuters) - Warren Buffett's Berkshire Hathaway and private equity firm 3G Capital will buy ketchup and baby food maker H.J. Heinz Co for $23.2 billion in cash, a deal that combines 3G's ambitions in the food industry with Buffett's hunt for growth. Including debt assumption, Heinz valued the transaction, which it called the largest in its industry's history, at $28 billion. Berkshire and 3G will pay $72.50 per share, a 19 percent premium to the stock's previous all-time high.