Heinz sold for £18bn

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FOOD giant Heinz has been sold for £18.02bn.

US billionaire Warren Buffett has bought the company, which has a factory in Wigan for $28bn.

The Heinz factory at Kitt Green
The Heinz factory at Kitt Green

The deal, described by Heinz as “historic”, is the biggest ever in the food industry,

The takeover has been approved by the company’s board, but still needs to be voted on by shareholders.

A Heinz statement said: “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 chief executive William Johnson.

“We look forward to partnering with Berkshire Hathaway and 3G Capital, both greatly respected investors, in what will be an exciting new chapter in the history of Heinz.”

Mr Buffett’s Berkshire Hathaway company is part of a consortium of investors who will take over the food company.

MORE ON THIS STORY IN THE WIGAN EVENING POST (FRIDAY) ...

 

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