A major corporate buy in the food world... As two major brand names become one.
FOX News Radio's Gurnal Scott reports:
One word describes the feelings of HJ Heinz company today...
...It's from their longtime ketchup ad campaign.
The condiment giant is adding Kraft Foods to its portfolio, projecting an annual revenue of $28 billion. That would make it the third largest food and beverage company in North America behind Pepsi and poultry producer Tyson Foods.
Billionaire investor Warren Buffett had a hand in this deal along with 3G Capital, which already owns Heinz.
Both boards of directors have signed off on the deal. They are now waiting for the OK from Kraft shareholders and federal regulators.
Gurnal Scott, FOX News Radio.