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Brazil's Richest Man Involved In Heinz Acquisition

NPR
Friday, February 15, 2013

Copyright 2018 NPR. To see more, visit http://www.npr.org/.

Warren Buffett is one of the investors in a $23 billion bid to buy HJ Heinz Company. Lesser known is one of Buffet's partners in the acquisition. Jorge Paulo Lemann is Brazil's richest man, according to Bloomberg.

Transcript

LINDA WERTHEIMER, HOST:

Let's catch up on yesterday's $23 billion bid to buy H.J. Heinz Company. Warren Buffett is one of the investors. The Oracle of Omaha is famous for snatching up American staples, like ketchup.

RENEE MONTAGNE, HOST:

Lesser known is one of Buffet's partners in the acquisition - a Brazilian, equally found of American companies.

Today's last word in business is: another oracle?

WERTHEIMER: Jorge Paulo Lemann is Brazil's richest man, according to Bloomberg. His wealth does not come from mining that country's natural resources. After earning a fortune in banking, and a brief career as a professional tennis player, Lemann has amassed his billions with stakes in iconic American brands.

MONTAGNE: Lemann helped merge the international brewer InBev with Anheuser-Busch, creating the world's largest beer company. And his 3G Capital group took Burger King private, and then public again 18 months later.

WERTHEIMER: Lemann still owns a big stake in the fast food chain. So if you go to a BK any time soon, expect your Whopper and fries to come with Heinz ketchup.

And that's the business news on MORNING EDITION from NPR News. I'm Linda Wertheimer.

MONTAGNE: And I'm Renee Montagne. Transcript provided by NPR, Copyright NPR.

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