Willkie Advises on $28 Billion Acquisition of H.J. Heinz Company

February 14, 2013

Firm assists BofA Merrill Lynch, financial advisor to Heinz, in the iconic ketchup maker’s acquisition by Berkshire Hathaway and 3G Capital.

On February 14, H.J. Heinz Company, the iconic maker of ketchup and other food products, announced that it has entered into a definitive merger agreement to be acquired by an investment consortium comprised of Berkshire Hathaway and 3G Capital in a transaction valued at $28 billion, including the assumption of Heinz’s outstanding debt. Willkie represented BofA Merrill Lynch, financial advisor to Heinz, in the transaction. Under the terms of the agreement, which has been unanimously approved by Heinz’s Board of Directors, Heinz shareholders will receive $72.50 in cash for each share of common stock they own.

H.J. Heinz is a global family of leading branded products including Heinz® Ketchup, sauces, soups, beans, pasta and infant foods (representing over one third of Heinz’s total sales), Ore-Ida® potato products, Weight Watchers® Smart Ones® entrées, T.G.I. Friday’s® snacks, and Plasmon infant nutrition. Berkshire Hathaway and its subsidiaries engage in diverse business activities including property and casualty insurance and reinsurance, utilities and energy, freight rail transportation, finance, manufacturing, retailing and services. 3G Capital is a global investment firm focused on long-term value, with a particular emphasis on maximizing the potential of brands and businesses.

The deal was handled by partners Steven Seidman and Laura Delanoy and associates Andrew Lloyd and Jonathan Scott.