Berkshire Hathaway already owns Dairy Queen, and 3G Capital bought Burger King in 2010. Now they'll have plenty of ketchup for those chains, to be sure. They also add Heinz's T.G.I. Friday's to their restaurant holdings.
The deal, said to be the largest ever in the food industry, pays Heinz shareholders $72.50 in cash for each share.
According to the Pittsburgh Post-Gazette, "Berkshire Hathaway and 3G Capital have pledged to maintain Pittsburgh as [Heinz's] global headquarters, and to fulfill and continue its philanthropic support of community initiatives and related investments."