From CNBC: 2024-04-09 09:05:13

Brazilian private equity firm 3G Capital sold its 16.1% stake in Kraft Heinz after the blockbuster merger with Warren Buffett nearly nine years ago. 3G’s influence at Kraft Heinz had been declining, with no board seats by July 2022. Buffett’s Berkshire Hathaway remains the largest shareholder at 26.8%.

After 3G Capital’s successful mergers, Kraft Heinz faced challenges as consumers shifted to fresher foods, new competitors emerged, and a 2019 quarter proved disastrous. Buffett admitted overpayment for Kraft Heinz, but stood by the company. To turn things around, Kraft Heinz made leadership changes and strategic shifts, selling off some businesses.

3G Capital’s influence at Kraft Heinz had diminished, with key board members stepping down over the years. The firm had been reducing its stake since 2018. The latest sale of shares by 3G coincided with a leadership change at Kraft Heinz, marking the end of an era for the private equity firm.



Read more at CNBC: 3G Capital quietly exited its Kraft Heinz investment last year