Posted by Mark J. Miller on March 25, 2015 10:44 AM
Warren Buffett can now tuck into a nice big bowl of Kraft Mac & Cheese and not feel like a traitor.
The Berkshire Hathaway-backed H.J. Heinz company today announced it's merging with Kraft Foods Group to create The Kraft Heinz Co., forming the third-largest food company in North America and the fifth-largest on the planet with combined revenue of $28 billion.
The Wall Street Journal estimates the transaction is worth at least $45 billion, calling it "one of the largest deals involving a private equity company on record."
“This is my kind of transaction, uniting two world-class organizations and delivering shareholder value,” Berkshire Hathaway Chairman and CEO Warren Buffett said in a press release. “I’m excited by the opportunities for what this new combined organization will achieve.”Continue reading...
Posted by Shirley Brady on March 25, 2015 07:27 AM
Heinz announced it's buying Kraft Foods to form The Kraft Heinz Company and create North America's third-biggest food company and the world's fifth-biggest food giant.
From the press release:
The combination of these iconic food companies joins together two portfolios of beloved brands, including Heinz, Kraft, Oscar Mayer, Ore-Ida and Philadelphia. Together the new company will have eight $1+ billion brands and five brands between $500 million and $1 billion. The complementary nature of the two brand portfolios presents substantial opportunity for synergies, which will result in increased investments in marketing and innovation.
Warren Buffett, Chairman and CEO of Berkshire Hathaway said, "I am delighted to play a part in bringing these two winning companies and their iconic brands together. This is my kind of transaction, uniting two world-class organizations and delivering shareholder value. I'm excited by the opportunities for what this new combined organization will achieve."Continue reading...
Posted by Dale Buss on November 13, 2014 09:19 AM
P&G sells Duracell brand to Warren Buffett for $4.7B in shares ahead of today's analysts' meeting.
Hasbro reportedly in talks to buy DreamWorks Animation.
Honda expands air bag recall as Takata receives subpoena from U.S. grand jury.
Sony launches web TV service.
Walmart posts rare rise in U.S. sales. Continue reading...
Posted by Mark J. Miller on October 13, 2014 02:02 PM
Warren Buffett has come a long way from his childhood days of selling gum, Coke, and magazines door to door.
The 84-year-old is known for living frugally—and for being one of the richest people in the world. The Oracle of Omaha is so well-known that he launched a cartoon with Jay Z in a bid to boost financial literacy among kids.
Less well-known, however, is Berkshire Hathaway, his investment firm (that's the homepage, above)—but Buffett aims to change that.Continue reading...
Posted by Dale Buss on October 2, 2014 07:14 AM
PepsiCo launches Pepsi True "mid-cal" as new salvo in cola wars, exclusively at first on Amazon.
Netflix books Adam Sandler for four movies while France's Orange plans to market the service in November.
Ford partners with culture brands and publishers to create "road trips" for new Mustang.
Volkswagen, Porsche and Lamborghini roll out plug-in hybrids in Paris.
Tesla hints at timing for unveiling Model "D."Continue reading...
Posted by Dale Buss on September 24, 2014 09:21 AM
Coca-Cola, PepsiCo and other soda makers vow to cut calorie consumption by 20 percent in ten years.
Home Depot sees fraudulent transactions surface in wake of data breach.
Walmart begins offering low-cost checking in bid to take on banks.
Clorox, subject of takeover chatter, doesn't plan to mimic P&G, as Colgate-Palmolive sparks takeover speculation and Pfizer held takeover talks seeking tax inversion.
Apple pitches "privacy" of new iPhones as users report bending issue and iOS 8 app crashing, as company acquires Prss digital magazine startup.
MORE BRAND NEWS
Air France quits low-cost Transavia unit.
Amazon tops customer-experience study and launches #AmazonWishList on Twitter while keeping unions at bay in Germany.
Beer?! joins the one-word app brigade.
Benjamin Moore partners with the CFDA to promote fashion designers.Continue reading...
Posted by Dale Buss on August 26, 2014 04:36 PM
The $11.4 billion acquisition of Tim Hortons by Burger King has added twists and turns as its shape has become more apparent over the last day or so.
Among the most interesting: Burger King has promised not to mess with Tim Hortons' beloved place as a national treasure in Canada; it really wants to press the potential advantages of a multi-brand fast-food holding company a la Yum! Brands; and Mr. Everywhere, Warren Buffett, directly injected himself and his money into Burger King's purchase of Tim Hortons. There's also the live wire of the tax-inversion issue in the US.
It's interesting that billionaire extraordinaire Buffett kicked in $3 billion through his company, Berkshire Hathaway, to help finance the deal, amounting to about 25 percent of the required funds. Shareholders of both companies have welcomed that news because of Buffett's renowned Midas touch.
That certainly could be helpful as the combined company faces headwinds including a sluggish global fast-food environment, Burger King's struggles in making significant headway against McDonald's, and Tim Hortons' own challenges in establishing a significant presence in thde US market and abroad—even though it makes more money than Burger King and Dunkin' Donuts combined.Continue reading...
Posted by Dale Buss on August 26, 2014 09:37 AM
Burger King finalizes deal to buy Tim Hortons for about $11 billion, with explicit help of Warren Buffett, and will test portfolio approach to brands.
Amazon buys Twitch Video for $970 million to rival YouTube and eyes expansion in online-ad market.
Best Buy tops financial predictions as realignment starts to pay off.
Emmys sees HBO, CBS and PBS score most wins. as telecast gets tepid reviews.
Blue Buffalo gets slapped by National Advertising Division over pet food claims.
MORE BRAND NEWS
Arby's pursues younger customers.
Buffalo Wild Wings invests in taco concept.
Century 21 partners in videos with cleaning expert.
Chevrolet and Buick achieve sole gains among auto brands in new customer-satisfaction survey.
Estee Lauder expands breast-cancer awareness to year-round campaign.Continue reading...