Warren Buffett: Ketchup connoisseur
blog by Kathryn Przybyla • February 14, 2013 @ 11:57am
Honestly, who doesn’t want fries with that?
In a press release from Heinz today, it was announced that the ketchup company will be acquired by an investment consortium comprising of Berkshire Hathaway and 3G Capital—making Heinz something like a third cousin to the Buffalo News.
According to Yahoo Finance, Buffett is pleased with the acquisition of everyone’s favorite burger topping. “Warren Buffett, Chairman and CEO of Berkshire Hathaway said, ‘Heinz has strong, sustainable growth potential based on high quality standards, continuous innovation, excellent management and great tasting products. 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.”
Although the deal has been approved by Heinz’s board but still requires approval by the company’s shareholders, according to USA Today.
Pittsburgh will remain the global headquarters for Heinz and although they are always associated with ketchup, the company has their hands in a few other projects.
According to USA Today, “the company’s brands include Heinz sauces, soups, beans, pasta and infant foods, Ore-Ida potato products, Weight Watchers Smart Ones entrées, T.G.I. Friday’s snacks, and Plasmon infant nutrition products.”
Hopefully this means free ketchup packets in the lunchroom upstairs.
Photo courtesy of Flickr / Caitlinator