US investment tycoon Warren Buffett is set to buy Heinz in the largest acquisition in the history of the food industry.

Holding company Berkshire Hathaway and private equity firm 3G Capital, both owned by Mr Buffett, will take over the food giant.

The $28 billion (£18 billion) deal will be fulfilled with $23 billion paid in cash, leaving the new owners with a $5 billion debt.

Such a deficit is cause for concern amongst Heinz employees, who number 2,500 in the UK and Ireland alone.

Alex Behring, co-founder of 3G Capital, said the company would be discussing cost-cutting measures in the near future.

Generally, though, employment is on the rise in the Retail and FMCG sector. Discover some of the Areas of Work for graduates.

Back to Top