Warren Buffett’s investment fund buys a food company for 23 billion USD

The Berkshire Hathaway Inc. investment fund of the star investor Warren Buffett and the 3G Capital investment fund acquires the H.J. Heinz Co. food company for 23 billion USD in cash. The H.J. Heinz Co. is the manufacturer of Heinz ketchup – the involved firms announced on Thursday.

The offer for Heinz is 72.50 USD per share, 20 percent higher than Wednesday's closing price. The Heinz Board of Directors approved the transaction with one voice. The value of ​​the transaction together with the company’s assumed debt will reach 28 billion USD.

It is the second major acquisition of the 3G Capital, which is backed mostly by Brazilian investors, after the company in 2010 aquired 71 percent of Burger King. (hvg.hu, MTI)