Warren Buffett met Jorge Paulo Lemann in the early 1990s when both sat at the board of razor maker Gillette and have been “good friends,” as Buffett himself said, ever since. Last week, Buffett went to Sao Paulo, Brazil’s financial capital, to meet Lemann and finalize the largest deal in the food industry’s history, the $28 billion acquisition of Heinz. Buffett’sBerkshire Hathaway will come in as the banker while Lemann’s 3G will manage the multi-billion joint venture. “This is my kind of deal and my kind of partner,” said the Oracle of Omaha.
Brazil’s richest person, worth $17.8 billion, $5.8 billion more than last year mainly thanks to his stake in Anheuser-Busch InBev, the world’s largest beer company, Lemann controls Burger King in addition to the makers of Budweiser beer.