brand take over
Posted by Dale Buss on February 14, 2013 01:01 PM
Warren Buffett may finally have met a deal that satisfies his appetite. In agreeing to buy H.J. Heinz Co. in partnership with 3G Capital for $23 billion (or $28 billion including debt assumption), the CEO of Berkshire Hathaway has acquired a stable of globally popular brands owned by a staunchly resilient company in an economically dependable business.
In fact, the famed Oracle of Omaha told CNBC this morning, he has been ogling Heinz since 1980. "This is my kind of deal and my kind of partner," he said. "Heinz is our kind of company with fantastic brands."
Those brands include not only Heinz ketchup, the "bread and butter" of the portfolio of the Pittsburgh-based CPG giant, but also Ore-Ida, Lea & Perrins sauces, and Classico pasta sauces. Heinz products are sold in more than 200 countries.
Even more important to Buffett, Heinz and its brands have been great performers in a tough industry even during the Great Recession, and over the last 12 months its stock already has risen nearly 17 percent. Berkshire and 3G agreed to pay $72.50 a share, about 20 percent above Heinz's closing price on Wednesday. On Thursday, the stock climbed about to about the acquisition price.Continue reading...
Posted by Dale Buss on May 27, 2011 09:00 AM
AT&T bid for T-Mobile comes under scrutiny in California.
Abbott Laboratories gets federal pushback on cholesterol-drug trials.
Amazon takes a do-over on flubbed Lady Gaga promotion.
Baidu plots overseas growth.
Delphi IPO signals automotive rebound.
Facebook beefs up lobbying team in Washington.Continue reading...
on the road again
Posted by Barry Silverstein on November 30, 2010 01:00 PM
Brand marketers have found a new way to get their messages out in an increasingly saturated marketplace: hit the road.Continue reading...