Heinz To Be Purchased For International Expansion

Berkshire Hathaway and Brazilian private equity firm 3G Capital will buy ketchup maker H.J. Heinz Co for $23.2 billion in cash - the largest transaction in its industry’s history.

February 15, 2013

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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