H.J. Heinz Company to be Acquired by Berkshire Hathaway and 3G Capital
Feb. 14, 2013
2011 Food Processing Processor of the Year, H.J. Heinz Co. announced on February 14 it has entered into a merger agreement to be acquired 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.
