H.J. Heinz Co., ranked number 26 on the 2012 Food Processing Top 100 Food and Beverage Companies, announced it has entered into a merger agreement to be acquired by Berkshire Hathaway and 3G Capital.
According to a statement, Heinz shareholders will receive $72.50 in cash for each share of common stock they own, in a transaction valued at $28 billion, including the assumption of Heinz's outstanding debt.
"The Heinz brand is one of the most respected brands in the global food industry and this historic transaction provides tremendous value to Heinz shareholders," said Heinz Chairman, President and CEO William R. Johnson. Heinz was named Food Processing's 2011 Processor of the Year.
Read the full details on Heinz's website.