Warren Buffet and 3G Capital finish the acquisition of Heinz
H.J. Heinz Co. has announced the completion of its acquisition by Berkshire Hathaway and 3G Capital.…H.J. Heinz Co. has announced the completion of its acquisition by Berkshire Hathaway and 3G Capital.
The transaction, valued at $28 billion, including the assumption of outstanding debt, was first announced on Feb. 14 and met shareholder approval on April 30.
Bernardo Hees has become chief executive officer of Heinz. Mr. Hees was previously chief executive officer of Burger King Worldwide, Inc. and he has been chief executive officer of America Latina Logistica, Latin America’s largest railroad and logistics company.
“I am honored today to become Heinz’s seventh c.e.o. in the company’s renowned 144-year history,” Mr. Hees said. “I look forward to building upon Heinz’s incredible platform and delivering world-class products for all of our consumers around the world, while maintaining the company’s unwavering commitment to quality, safety and superior customer service.”
Mr. Hees replaces William R. Johnson, who has retired from his position as Heinz’s chairman, president and chief executive officer after 31 years with the company. He will serve as a part-time advisor to Mr. Hees.
Paulo Basilio, a partner at 3G Capital, has become chief financial officer. He previously served as chief executive officer of America Latina Logistica.