Published on Feb 6, 2017
The H. J. Heinz Company, or Heinz, is an American food processing company with world headquarters in Pittsburgh, Pennsylvania. It was founded by Henry John Heinz in 1869. The H. J. Heinz Company manufactures thousands of food products in plants on six continents, and markets these products in more than 200 countries and territories. The company claims to have 150 number-one or number-two brands worldwide. Heinz ranked first in ketchup in the US with a market share in excess of 50%; Ore-Ida label held 46% of the frozen-potato sector in 2003.
Since 1896, the company has used its “57 Varieties” slogan; it was inspired by a sign advertising 21 styles of shoes, and Henry Heinz chose the number 57 even though the company manufactured more than 60 products at the time.
On February 14, 2013, Heinz agreed to be purchased by Berkshire Hathaway and 3G Capital for $23 billion. On March 25, 2015, Kraft announced its merger with Heinz, arranged by Berkshire Hathaway and 3G Capital. The resulting Kraft Heinz Company is the fifth largest food company in the world. Berkshire Hathaway became a majority owner of Heinz on June 18, 2015. After exercising a warrant to acquire 46,195,652 shares of common stock for a total price of $461,956.52, Berkshire increased its stake to 52.5%. The companies completed the merger on July 2, 2015.
The 3G Way is an introduction to the management style developed by three Brazilian entrepreneurs who took over some of the main icons of American capitalism: Anheuser Busch, Heinz and Burger King.