The newly formed company, financed by American business mogul Warren Buffett’s Berkshire Hathaway company and private equity firm 3G Capital, both of which bought Heinz in 2013, will have a revenue of roughly $28bn according to the two parties.
The deal makes the company the fifth largest food and beverage firm in the world and the third largest in North America, with eight brands worth over $1bn and five over $500m.
The companies have estimated that the merger will generate $1.5bn in cost savings to be implemented by the end of 2017 through sharing and synergising on best practices.
However, the key part Read full story ›
Source: Marketing Week
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