Reports: Buffett, Lemann buy H.J. Heinz; Buffett investment group increases Costco holding

Berkshire Hathaway, 3G Capital to buy condiment maker for $23 billion

NEW YORK — The investment groups of billionaires Warren Buffett and Jorge Paulo Lemann will buy H.J. Heinz for about $23 billion, according to published reports.

Bloomberg reported that Buffett's Berkshire Hathaway and Lemann's 3G Capital would buy the condiment maker for $72.50 per share, and the deal includes $12 billion to $13 billion from Buffett's group. Heinz also owns the Ore-Ida potato chip brand.

In other news, Berkshire Hathaway increased its holdings in Costco Wholesale, acquiring 6,457 shares of the company for $28.26 per share, bringing its total shares in the club retailer to 139,297, according to records filed with the Securities and Exchange Commission Wednesday.

Like this story? Find us on Facebook for more insight, analysis and the latest in drug store news. Join the conversation.

Login or Register to post a comment.