U.S. interests are not in Buffets vocabulary.........................
Evidently, Buffett and 3G Capital like what they see. According to Bloomberg, they are paying about 14.6 times earnings before interest, taxes, depreciation and amortization, well above the 7.6 times multiple paid in similar deals. Shares of other food companies, such as Campbell Soup (CPB +1.76%), are rising as well.
Buffett has made other bets in consumer products, with holdings in Coca-Cola (KO +1.57%), Johnson & Johnson (JNJ +0.46%) and Kraft Foods (KRFT +0.02%). He helped Mars Inc. in its $28 billion takeover of chewing gum maker Wm. Wrigley Jr.
Based in Brazil, 3G Capital, is no stranger to the food business either and will manage the operations of Heinz when the deal closes. It acquired Burger King (BKW +4.70%) in 2010 for $3.3 billion and took the fast food chain public last year.