Heinz To Be Purchased For International Expansion

This deal combines 3G’s ambitions in the food industry with Buffett’s hunt for growth.

Pittsburgh-based Heinz generates two-thirds of its $11.6 billion in annual sales outside the U.S., with 25% in emerging markets, making Heinz a platform from which 3G Capital could make additional acquisitions in the food industry. Heinz’s strong cash flow could help make that happen.

“It is a truly global brand,” said 3G co-founder and managing partner Alex Behring.

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