Heinz acquisition largest in food industry history

Feb. 18, 2013

Pittsburgh-based food processing giant H. J. Heinz Co. has entered into a merger agreement to be acquired by Berkshire Hathaway and 3G Capital in a transaction valued at $28 billion, the largest ever in the food & beverage industry.

Pittsburgh-based food processing giant H. J. Heinz Co. has entered into a merger agreement to be acquired by Berkshire Hathaway and 3G Capital in a transaction valued at $28 billion, the largest ever in the food & beverage industry.

Under the terms of the agreement, Heinz shareholders will receive $72.50 in cash for each share of common stock they own.

RELATED: US meat industry at risk of shutting down for weeks

“Heinz has strong, sustainable growth potential based on high quality standards, continuous innovation, excellent management and great tasting products," said Warren Buffett, chairman and CEO of Berkshire Hathaway. "Their global success is a testament to the power of investing behind strong brand equities and the strength of their management team and processes. We are very pleased to be a part of this partnership.”

Berkshire Hathaway and 3G Capital have agreed to maintain Pittsburgh as the company's global headquarters and to fulfill and continue its philanthropic support of community initiatives and related investments. 

Sponsored Recommendations

2024 Manufacturing Trends — Unpacking AI, Workforce, and Cybersecurity

The world of manufacturing is changing, and Generative AI is one of the many change agents. The 2024 State of Smart Manufacturing Report takes a deep dive into how Generative ...

State of Smart Manufacturing Report Series

The world of manufacturing is changing, and Generative AI is one of the many change agents. The 2024 State of Smart Manufacturing Report takes a deep dive into how Generative ...

Trying to Keep Pace with Supply Chain Disruption?

CPG manufacturers are struggling to keep up with supply chain disruptions. Learn how to build more resilient operations –and reduce demand shock.

Mitigating Cybersecurity Threats – Step-by-Step

Distributor Wesco adds services focused on identifying and solving OT network and security vulnerabilities in critical manufacturing.