As CNBC reports, 3G Capital-owned ketchup manufacturer Heinz announced the planes to take control over another biggest American processed food company Kraft Foods. The newly formed entity will be the third largest food conglomerate in the U.S. and the fifth in the world with approximate market value of $80 billion, according to The New York Times.
Warren Buffett’s Berkshire Hathaway is jointly acquiring H.J. Heinz Co., the manufacturer of the world’s favorite ketchup, as well as baked beans, potatoes and sauces. The co-investor in this deal is 3G Capital Management, which is expected to take day-to-day decisions in the future. The $28 billion deal ($23.3 billion plus debt), which is largest ever in food industry, is to be finalized later this year.
The Swedish car brand Saab changes its logo—the visual identity drops the legendary crowned red griffin. The new grey logo, which will be used for passenger cars, has been developed by National Electric Vehicle Sweden AB (NEVS), which has recently acquired Saab, and the design agency Stockholm Design Lab AB.
Along with facilitating piracy within its search engine, Google announces the acquisition of all of John Wiley & Sons Inc.’s travel assets, including the Frommer’s brand. With the move Google will expand its local services and own about 350 travel guides and the Frommers.com travel-planning website.