Buffett says Berkshire is on the hunt for more Heinz-like deals

City A.M. Reporter
BERKSHIRE Hathaway is on the hunt for more deals similar to its planned purchase of HJ Heinz, Warren Buffett, the conglomerate’s chief executive, said yesterday.

“If we get a chance to buy another Heinz, we will do that,” Buffett said on CNBC-TV.

Berkshire likes the ketchup maker’s business, the deal’s $23bn price, and its partner in the transaction, private equity firm 3G Capital, Buffett said in an extended interview.

“We hope to own Heinz 100 years from now,” Buffett said. “If you own great brands and you take care of them, they’re terrific assets.”

Buffett said he is not currently eyeing another consumer products company, but is looking at a possible deal in a sector he would not disclose.

After a recent binge of buying newspapers, he said he is not interested in buying the Chicago Tribune or the Los Angeles Times from the Tribune Co.