Berkshire Hathaway, 3G Capital close $28 billion Heinz deal

PITTSBURGH – Warren Buffett's Berkshire Hathaway and 3G have completed their acquisition of condiment maker H.J. Heinz Co., Heinz said.

Shareholders of Heinz will receive $72.50 per share in cash in the sale, whose total price is $28 billion. As a result of the deal, Heinz's stock is no longer trading on the New York Stock Exchange, and 3G Capital partner Bernardo Hees has been appointed as CEO.

"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," Hees said.