Berkshire’s Buffet Says He’s In The Ketchup Business For The Long Haul

Warren Buffet, in a letter to Berkshire Hathaway shareholders, said he expects recent acquisition H.J. Heinz Company to be a long-term investment. Buffet purchased Heinz with Brazilian investor 3G Capital last year, both parties paying $4.25 billion for common shares. But Berkshire  put in an additional $8 billion to acquire dividend-paying preferred shares. Noting that some 3G investors may be selling their shares in the near future, Buffett said in a letter to Berkshire investors that he would be interested in acquiring those shares, boosting his stake in the U.S. ketchup company for the long term.