Louisiana residents may find it interesting to learn that a merger has been announced between H.J. Heinz Co. and Kraft Foods Group Inc. If the merger is approved by the Federal Trade Commission the resulting business entity, the new Kraft Heinz Company, will be instantly catapulted to a position as the third-largest food manufacturer in the U.S.
Analysts expect the value of the newly merged company to be well over $80 billion. The Brazilian private investment group 3G Capital, which owns H.J. Heinz Co., coordinated the merger of the two food giants in collaboration with Berkshire Hathaway of Warren Buffett fame. Berkshire Hathaway and 3G have worked together in the past; in 2013, the two groups led a hostile takeover of Heinz to the tune of $28 billion.