2013 Deals of the Year: Warren Buffett’s Heinz Buyout Cuts the Mustard

涉及Warren Buffett的收购似乎没有挂钩。见证了奥马哈最近购买的H.J. Heinz Co.的章程甲骨文，其股东宣称他的竞标乘坐番茄酱私人。6月7日关闭的274亿美元的买断，为匹兹堡的Heinz的杰出股份支付了72.50美元，这是2月14日交易公告的汇率收费20％的溢价。

Buffett’s Berkshire Hathaway split the bill 50-50 with 3G Capital, an investment firm led by fellow billionaire Jorge Paulo Lemann, Brazil’s richest man. 3G, whose main office is in New York, had already shown a taste for U.S. edibles with global appeal by picking up Burger King Holdings for $3.3 billion in 2010.

Buffett likes getting good deals for well-run companies that generate healthy returns and show growth potential. Heinz may be an American institution, but in the 2013 fiscal year almost a quarter of its sales came from emerging markets. The simplicity of its core product mirrors one of Buffett’s long-held investments, Coca-Cola Co., a position he’s steadily built since 1988.

2013 Deals of the Year Jim Renwick & Team Barclays Antonio Weiss & Team 拉扎尔 Christian Lesueur & Team UBS James ("Jimmy") Lee Jr. & Team JPMorgan Chase & Co. Marco Gonçalves & Team BTG Pactual Marisa Drew & Team 信用瑞士集团 Geoffrey Austin＆Team Moelis & Co. 安东尼·诺托&团队 Goldman Sachs Group Adam Taetle & Team Barclays Kenneth Hirsch & Team Goldman Sachs Group

Antonio Weiss是由澳大利亚的奥马哈，基于内布拉斯加州的伯克希尔Hathaway和3G，建议在汉堡王买断。Weiss是纽约的Lazard全球投资银行业负责人，前面包括亚历山大Hecker董事总经理的团队。JPMORGON CHASE＆CO.和WELLS FARGO＆Co.还建议了联合会;代表Heinz是美国银行Merrill Lynch和独立投资银行Centerview Partners和Moelis＆Co.总咨询费用高达1.07亿美元。

True to form, Buffett reportedly has no plans to ever sell a share in Heinz; he and Lemann don’t appear to have hatched this leveraged buyout with an exit in mind. “It’s a strategic deal as opposed to a financial deal,” says Weiss, 47, who was Lazard’s Paris-based global head of M&A until 2009. “It’s a long-term commitment to the company, to the industry.”

But Heinz began restructuring almost immediately, a move that points to Lemann and 3G’s hands-on approach. Chief executive William Johnson was ousted in favor of cost-cutter Bernardo Hees, previously CEO of Burger King. In November management announced plans to trim 1,350 jobs by closing three North American plants. Heinz isn’t a traditional private equity deal, Weiss notes: “There is no limited partner relationship in an institutional sense, with a return requirement within some time period.” As a result, he explains, the investor group can focus on long-term growth.

Rank	Deal	Estimated 费用 （$百万美元）*
1	U.K. bankBarclaysfollows a £5.8 billion ($9.1 billion) rights issue with a $2 billion hybrid bond offering.	$1832
2	Warren Buffett’sBerkshire Hathaway和Brazilian investment firm3G Capitalpay $27.4 billion to take ketchup makerH.J. Heinz Co.私人的。	$97–107
3	U.S. Telecom.Verizon Communications同意向英国承运人的45％股权提供1300亿美元的沃达丰Verizon Wireless.	$93–103
4	FounderMichael Dell和Silver Lake Partnersprivatize U.S. computer makerDellfor $24.9 billion.1	$82–92
5	Brazilian phone companyoi.和Portugal Telecom在前名的名字下同意157亿美元的捆绑。	$70–90
6	Cable giantLiberty Globalbuys the U.K.’sVirgin Media255亿美元。	$882
7	Advertising firmsOmnicom Group和Publicis Groupe.同意350亿美元的Franco-American Merger的平等。	50-70美元
8	社交媒体公司推特launches a $2.1 billion initial public offering on the New York Stock Exchange.	68美元2
9	China’sShuanghui International Holdingscloses a $7 billion buyout of U.S. pork producerSmithfield Foods.	$51–61
10	iPhone制造商苹果issues $17 billion worth of bonds.	$532
*估计unless otherwise noted. M&A totals only include advisory fees; debt and equity totals only include underwriting fees. 1 Deal value provided by Dell. 2 Publicly disclosed.
Source: Thomson Reuters/Freeman Consulting Services.