Generally known as a complementary player, ketchup took center stage Thursday with the announcement that Berkshire Hathaway and 3G Capital have agreed to acquire H.J. Heinz Company, maker of the ubiquitous condiment brand, in a deal worth $28 billion, including the assumption of debt.
Berkshire, billionaire investor Warren Buffett’s investment vehicle, is being advised on the transaction by longtime outside counsel Munger, Tolles & Olson, while Kirkland & Ellis is handling the deal for Brazilian-backed investment firm 3G. For its part, Heinz has turned to Davis Polk & Wardwell as outside counsel. Wachtell, Lipton, Rosen & Katz is advising a special committee of the company’s board.
