Buffett’s Kraft Heinz Bet Valued at $24 Billion in Debut
Caricatures of Warren Buffett, Berkshire Hathaway Inc. chairman and chief executive officer, and Charles Munger, vice chairman of Berkshire Hathaway Inc., appear on a sign advertising a special edition package of Heinz ketchup and mustard during the Berkshire Hathaway Inc. annual shareholders meeting in Omaha, Nebraska, on May 2, 2015.
Photographer: Daniel Acker/BloombergWarren Buffett helped take over H.J. Heinz in 2013 and facilitated its combination with Kraft Foods Group Inc. this year. His prize: a stake of about $24 billion in the new company, which began trading Monday.
Kraft Heinz closed at $72.96 at 4 p.m. in New York trading. Buffett’s Berkshire Hathaway Inc. owns about 325 million shares, or roughly a quarter of the company, after investing approximately $9.5 billion over the transactions to acquire common stock.