Shares of the ketchup making giant were up more than 20 percent in pre-market trading following the announcement. (Click here to track the stock's reaction to the buyout news.) (HNZ)
In an interview with CNBC's "Squawk Box," Buffett, Berkshire Hathaway chairman and CEO, said that, from an operational standpoint "Heinz will be 3G's baby."
Buffett said he first started talking about the Heinz deal back in December, "but I have a file on Heinz that goes back to 1980."
"This is my kind of deal and my kind of partner," he added. "Heinz is our kind of company with fantastic brands."
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