Heinz, the well-known family favorite ketchup brand, has been banned in Israel because it does not contain enough tomato solids. Israel’s health ministry has said that it does not contain enough paste to be classed as ketchup.
The decision came after the biggest ketchup rival in Israel launched a campaign against Heinz, asking for the definition of ketchup to be changed. The world famous brand has been demoted to “tomato seasoning” – despite selling almost two million bottles around the world every single day.
Buy nothing from this company, if you want to stay or become healthy.
Totally avoid all processed foods.
– Thousands Of Layoffs Coming After Buffett Merges Heinz With Kraft, Creating 5th Largest Food Company In The World (ZeroHedge, March 25, 2015):
Another day, another mega-M&A deal taking advantage of abnormally low bond rates, this time however not involving biotechs or a specialty pharma seeking to purchase a debt-free balance sheet, but one involving the Oracle of Omaha himself, and his Heinz investment, which will merge with Kraft Foods whose market cap was over $40 billion this morning on the news of the merger, and create the third largest food and beverage company in the US, and 5th largest in the world.
And while the resulting company will certainly be an unprecedented food giant, one which leaves the US food industry even more concentrated, here is the rationale behind the deal and the punchline for American workers: “significant synergy opportunities.” Translation: thousands of layoffs imminent.
Details from the press release:
H.J. Heinz Company And Kraft Foods Group Sign Definitive Merger Agreement To Form The Kraft Heinz Company Combination Creates Unparalleled Portfolio of Powerful and Iconic Brands
– Guess Who Was Buying HNZ Stock From Its Clients (ZeroHedge, Feb 13, 2013):
An investment bank having a Sell rating on a stock? Usually an unheard of thing: why alienate the management, why prevent future banking business – it’s not like banks are ethical creatures – and sure enough in this particular case, the bank in question had sell recos on just 14% of the stocks in its coverage universe. Which begs the question: what does a Sell rating really accomplish? Well, in this case, and in all such cases, it merely provides the firm’s prop, pardon flow, traders the opportunity to accumulate the shares its “clients” are advised by the same bank’s sellside group to Sell, preferably to the bank in question. Who are we talking about? Take a wild guess…
Bottom line: 20% gain for Goldman’s prop traders who bought all the HNZ stock they indirectly “advised” their client counterparts to sell to them.
Is it time to buy all other Goldman “Sells” on imminent Buffet takeovers?
– So Who Leaked The Heinz Deal? (ZeroHedge, Feb 14, 2013):
Just a purely accidental modest to quite modest increase in the Heinz June $65 call open interest yesterday, and an even more accidental $1.5 million profit in one day? Surely the new Morgan Stanely head of the SEC will get right on it, and market “credibility” will be preserved. At least Buffett’s DOJ-immune rating agency Moody’s will rate the JPM’s committed financing for the HNZ takeover AAAA++++.
– Heinz Confirms It Will Be Acquired By Buffett In $28 Billion Transaction At $72.50/Share (ZeroHedge, Feb 14, 2013):
Just released by Heinz. Luckily, the brand new US Secretary of State has a full conflict of interest release.
H.J. Heinz Company Enters Into Agreement to Be Acquired by Berkshire Hathaway and 3G Capital
H.J. Heinz Company (NYSE: HNZ) (“Heinz”) today announced that it has entered into a definitive merger agreement to be acquired by an investment consortium comprised of Berkshire Hathaway and 3G Capital.
Under the terms of the agreement, which has been unanimously approved by Heinz’s Board of Directors, Heinz shareholders will receive $72.50 in cash for each share of common stock they own, in a transaction valued at $28 billion, including the assumption of Heinz’s outstanding debt. The per share price represents a 20% premium to Heinz’s closing share price of $60.48 on February 13, 2013, a 19% premium to Heinz’s all-time high share price, a 23% premium to the 90-day average Heinz share price and a 30% premium to the one-year average share price.