Buffett’s Berkshire Hathaway Discloses Ownership In Kraft Heinz

Buffett’s Berkshire Hathaway Discloses Ownership In Kraft Heinz
<a href="https://pixabay.com/users/pixel1/">pixel1</a> / Pixabay

Berkshire Hathaway, the multinational conglomerate controlled by billionaire investor Warren Buffett, owns 325,442,152 shares of common stock of The Kraft Heinz Company based on its Form 3 filing with the Securities and Exchange Commission (SEC).

The filing also showed that Berkshire Hathaway owns 80,000 (9% cumulative compounding preferred stock, Series A) of Kraft Heinz.

Benjamin Moore & Co. Retirement Income Plan, the pension plan of one of the subsidiaries of Berkshire Hathaway also owns 192,666 shares of common stock of the company.

Warren Buffett’s Annual Letter: Mistakes, Buybacks and Apple

Berkshire Hathaway Warren BuffettWarren Buffett published his annual letter to shareholders over the weekend. The annual update, which has become one of the largest events in the calendar for value investors, provided Buffett's views on one of the most turbulent and extraordinary years for the financial markets in recent memory. Q4 2020 hedge fund letters, conferences and more Read More

Get The Full Warren Buffett Series in PDF

Get the entire 10-part series on Warren Buffett in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

3G Capital ownership in Kraft Heinz

On the other hand, 3G Capital Partners also submitted its Form 3 filing with the SEC. The filing showed that 3G Global owns 293,536,058 shares of common stock of The Kraft Heinz Company.

The Kraft Heinz Company started trading on NASDAQ

H.J. Heinz Company and Kraft Foods Group completed its merger on July 2 forming The Kraft Heinz Company. The merger between the companies was engineered by Berkshire Hathaway and 3G Capital, which both acquired Heinz two years ago.

Kraft Heinz is the third-largest food and beverage company in North America, and the fifth largest worldwide after the merger. Berkshire Hathaway and 3G Capital own 51% of Kraft Heinz.

Buffett serves as one of the eleven directors of Kraft Heinz. Alexy Behring serves as chairman of the board. Kraft Heinz is the second largest stock investment of Buffett behind Wells Fargo.

Kraft Heinz started trading under the ticker KHC on NASDAQ yesterday. The shares of the company traded between $72.96 and $73.99 per share. The stock is trading at $73.23 per share, up by 0.44% at the time of this writing around 11:30 AM in New York.

Kraft Heinz entered a new credit agreement

Kraft Heinz reported in its form 8-K filing that it entered into a new Credit Agreement with JP Morgan Chase Bank, N.A., and J.P. Morgan Europe Limited.

According to the company, the credit agreement provides a $ 4 billion senior unsecured revolving credit facility and a $600 million senior unsecured term loan facility.

Kraft Heinz said the new revolving credit facility includes a $1 billion sub-limit for borrowing in Canadian dollars, Euro or Sterling as well as a credit sub-facility of up to $150 million and a competitive bid loan facility.

No posts to display