Cochairman and board member of restaurant brands international since 3g capital s acquisition of burger king in october 2010 and following burger kings subsequent acquisition of tim hortons in december 2014. The success of these deals has resulted in 3g and mr. Eastern time at heinz world headquarters, one ppg place, suite 3100 in pittsburgh, pa. Kraft heinz chairman and 3g capital cofounder alexandre behring has recently moved from greenwich, conn. In 3g capital, buffett finds goto partner by gelles, david. How the brazilian trio behind 3g capital jorge paulo lemann, marcel telles and beto sicupira acquired anheuserbusch, burger king and heinz by brian langis. Jorge paulo lemanns company, 3g capital, has a record of making deals in. Alexandre behring, managing partner, 3g capital partners.
Mr behring is something of a queijo grande in his native brazil, a veteran private equity manager, and 3g is backed by some of the. The twoway the deal would create the worlds fifthbiggest food and beverage company. The iconic burger king brand, its solid franchisee network and great product offerings make this a perfect fit for 3g capital, which has a strong track record of longterm investments in global consumer brands and retail companies, 3g capital s managing partner alex behring said. Burger king to be acquired by 3g capital denver business. Buffett has only good words for 3g capital, unlike other private equity firms. Johnson, heinz chairman, president and chief executive officer alex behring, managing partner, 3g capital. Buffett publicly proclaiming their mutual affection for each other. Alexandre behrings photo managing director of 3g capital.
The deal adds another massive consumer brand to the portfolio of 3g capital, the private equity firm founded by brazilian billionaire and former professional tennis player jorge paulo lemann, once again with funding from his friend buffett. We approached heinz to explore how we might work together to expand the value of this storied brand. Mar 28, 20 a good business book, and for anyone interested in brazilian business this is a must read. May 07, 2017 this is a transcript of a financial times interview by email with alex behring, cofounder and chief executive of 3g capital. Founding partner alex behring talks about the strategy transforming the. Warren buffetts behindthescenes look at the failed kraft heinz, unilever merger. Major cutbacks are likely coming for kraft and heinz. Nov 18, 2014 alexandre behring, who is the managing director of 3g capital ltd.
May 23, 2019 in a different financial times story from not long after, 3g founding partner and kraft heinz chairman alex behring tried to downplay both the significance of the rejection and industry speculation that the company would need to move on to a new target instead. Johnson l during a news conference to announce that heinz has agreed to be bought by. Six years ago, 3g capital and berkshire hathaway began to build their. That meal would lead to the deal that the investment community has been anticipating for years and some pittsburghers have been dreading. Heinz company enters into agreement to be acquired by. Heinz and 3g capital invite media to attend a joint press conference today, february 14, at 11 a. If the deal goes through and 3g acquires kraft foods, analysts expect to see a swift turnaround in the struggling food manufacturing companys fortunes. Lemanns 3g associates bernardo hess and alex behring would run heinz as ceo and chairman, respectively. Heinz buying kraft in deal to create food giant business. He is a cofounder and managing partner at 3g capital, executive chairman of restaurant. Alex behring, managing partner at 3g capital said, we have great respect for the heinz brands and the strong business that management and its employees operate around the world. Previously served as chairman of the heinz board from june 20 to july 2015. Alexandre behring da costa is a chairman at the kraft heinz co.
The fbi is looking into possible insider trading in the options of ketchup maker h. Anheuserbusch inbev sanv operates as a holding company, which engages in the manufacture and distribution of alcoholic and nonalcoholic beverages. He does not appear on the forbes billionaires list. Mar 26, 2015 3g capital, warren buffetts favorite partner in deals worth billions warren e.
Behring chairs kraft heinz and is cochairman of restaurant. Bill ackmans hedge fund pershing square capital management, is burger kings largest investor after 3g. Feb 14, 20 keith srakocicassociated press william johnson, left, chief of h. Mar 25, 2015 the direction for justannounced kraft heinz co.
Aug 31, 2017 in early february, 3g ceo and kraft heinz chairman alex behring met polman for lunch at unilevers london offices. Alexandre behring da costa the kraft heinz company 3g capital partners. Backed by buffett and greenwich investor, kraft heinz. Why warren buffett loves doing deals with 3g capital less than two years in, berkshire hathaways investment in h. Since then, the leadership of the company has been replaced by senior 3g executives. Alexandre behring is a cofounder and the managing partner of 3g capital, a multibilliondollar brazilborn, u. I found it particularly interesting how the author blends the worlds of popular american business icons like sam walton, warren buffet and jim collins with jorge lemann and his team. Kraft and heinz to merge in deal backed by buffett and 3g capital. Kraft, heinz merger driven by buffett and 3g likely to mean.
Chairman and board member of restaurant brands international since 3g capitals acquisition of burger king in october 2010 and following burger kings subsequent acquisition of tim hortons in december 2014. The warren buffett of brazil behind the offer for unilever the new. Behring is a brazilian native who graduated from harvard business school in 1995 and lives in greenwich, conn. How they managed to get this far from their home at brazil is a completely fascinating story. Alexandre behring, chairman of kraft heinz and partner of 3g capital, has made a name for himself by acquiring firms. It would bring together under one corporate roof iconic brands such as. Find all the books, read about the author, and more. This is a transcript of a financial times interview by email with alex behring, cofounder and chief executive of 3g capital. The childrens investment master fund, 3g capital partners ltd. Kraft heinz picks up a millenial cfo global finance magazine.
In 3g capital, buffett finds goto partner by gelles. Alexandre behring da costa born 1967 is a brazilian businessman. Alex behring nonexecutive board member cofounder, ceomanaging partner, and board member of 3g capital since late 2004. Anheuserbusch inbev, restaurant brands international burger king, tim hortons, and popeyes louisiana. Heinz to merge with kraft to create us food giant telegraph. Anheuserbusch inbev, restaurant brands international, kraft heinz as well as partnering with berkshire hathaway for. Confidence on upswing, mergers make comeback the new york times. Mar 26, 2015 now 3g capital, a brazilian private investment group that already owns a suite of americas most prominent food and beverage brands, has struck a deal to take control of kraft foods, the maker. Filthy jew demons now selling us our beer incog man. New york 3g capital, an investment firm, has entered into an agreement to acquire burger king holdings, inc. Heinz and kraft agree to merge with warren buffetts help. When 3g capital and berkshire hathaway arranged the food industry megamerger of kraft and heinz back in 2015, the newly formed kraft heinz was to serve as the latest testament to 3g s parsimonious approach to private equity, a style that involves slashing costs, major layoffs andin the past, at leastthe sort of returns that make investors giddy. Alex behring, managing partner at 3g capital said, bernardo is an experienced executive with an impressive track record of enhancing performance at all where he managed a team that drove strong.
View alex behrings profile on linkedin, the worlds largest professional community. Warren buffett quietly moves to reshuffle kraft heinz board. It later bought kraft and merged it with heinz in 2015. Cofounder, ceomanaging partner, and board member of 3g capital since late 2004. Alex behring, chairman of heinz and the managing partner at 3g capital said that by bringing together the two iconic companies, kraft and heinz were creating a strong platform for both us and international growth. North america, latin america west, latin america north, latin america south, emea, asia pacific and global export and holding companies. Heinz co before its blockbuster deal to be acquired by warren buffett and brazils 3g capital, it emerged today.
See 3g capitals revenue, employees, and funding info on owler, the worlds largest. Moreover, 3g capital, mr buffetts fellow investors, had a reputation. Details emerge on heinz kraft merger, and what it means. Behring is a founding partner and has been managing partner and a board member of 3g capital, a global investment firm, since 2004. How the brazilian trio behind 3g capital jorge paulo lemann, marcel telles and beto sicupira acquired anheuserbusch, burger king and heinz kindle edition. Heinz and controlling shares of anheuserbusch inbev bud. Alex behring reveals his investment philosophy financial times. Otoole and gary wilson collectively, the participants issued certain materials filed herewith as exhibits 1, 2 and 3. Alexandre behring, who is the managing director of 3g capital ltd. The age of technological disruption, brought in by powerhouses like amazon, has caught. Alex behring, parter at 3g capital final thoughts 3g capitals investment in heinz is a phenomenal case study on the importance of cost management and the incredible impact that management changes can have on corporate profitability.
There he learnt about investing and mergers and acquisitions from his mentor, the billionaire brazilian financier and the principal of 3g capital, jorge paulo lemann. Buffett while discussing the merger of heinz and kraft in a call with investors. The founding partners of 3g capital are jorge paulo lemann, marcel telles, carlos alberto sicupira, roberto thompson, and alex behring, our managing partner, all of whom have together been investing in and operating businesses for several decades. At the time, alex behring a founding partner of 3g was going to southern brazil to a railroad project, and he said, look, why dont you come spend some days there and see what its all. The lean and mean approach of 3g capital financial times.
About eight weeks ago, heinz ceo bill johnson had dinner with alex behring and jorge paulo lemann of 3g capital. Alex behring, the force behind zerobased budgeting. Behring, whose firm 3g capital acquired heinz in 20, will be chairman of the new company once the deal closes in the second half of 2015. Fbi probes insider trading day before heinz was bought by. Conflicting visions killed the kraft heinzunilever deal. Cochairman and board member of restaurant brands international since 3g capitals acquisition of burger king in october 2010 and following burger kings subsequent acquisition of tim hortons in. We have great respect for the heinz brands, and the strong business that management and its employees operate around the world. But in a rare interview, alex behring, one of 3gs founding partners and. He is a co founder and managing partner at 3g capital, executive chairman of restaurant. Heinz, and alex behring, a partner in 3g capital, one of the companies buying heinz. Alex behring, 3g managing partner, became the chairman of the merged company, and another 3g partner, bernardo hees, became heinzs ceo. Behring then became a partner in the largest privateequity firm in latin america, gp investimentos, from 1994 to 2004.
Anheuserbusch inbev, restaurant brands international. If you did not already know it, the three gentlemen featured in this book, through their prior and current investment vehicles 3g capital, control three of the most iconic american brands budweiser, burger king, and now heinz. The deal, engineered by heinzs owners, brazilian privateequity firm 3g capital and warren buffetts omaha, neb. Aug 30, 2010 we have great respect for the burger king brand and the strong business that management, the employees and the franchisees have built, said alex behring, managing partner of 3g capital, in a. Alex behring cofounder, ceomanaging partner, and board member of 3g capital since late 2004. Founding partner alex behring talks about the strategy transforming the beer and food industries.
The firm is best known for implementing zerobased budgeting at its portfolio companies. May 07, 2017 moreover, 3g capital, mr buffetts fellow investors, had a reputation for aggressively cutting costs and jobs. Alex behring, a managing partner at 3g capital said. See the complete profile on linkedin and discover alexs.
A 3g founding partner, alex behring, is chairman of restaurant. Alex behring alexandre behring da costa is a brazilian businessman. This is a transcript of a financial times interview by email with alex behring, co founder and chief executive of 3g capital. In his 20 letter, buffett lauded the partnership structure used with heinz as a.
Behring serves as independent chairman of the board of the company. Our combined brands and businesses mean increased scale and relevance both in the u. Billionaire jorge paulo lemann cofounded 3g with alex behring, carlos alberto sicupira, marcel herrmann telles and roberto thompson motta. The brazilians behind the heinz deal the new york times.
This article is by no mean a complete history of 3g capitals involvement with heinz. Bernardo hees to be appointed chief executive officer of. Alex behring r, managing partner at 3g capital, listens to heinz chairman, president and ceo william r. It operates through the following geographical segments. Kraft heinz debacle proves not even buffett immune to. Alex behring, executive chairman of burger king and managing partner of 3g capital, said, by bringing together our two iconic companies. Mezvinsky left 3g in 2011 and has since set up is own hedge fund. The three men set up 3g capital as a vehicle to invest in us companies in 2004 along with mr behring and roberto thompson motta. A confluence of factors has driven the recent deals. He is a cofounder and managing partner at 3g capital, executive chairman of restaurant brands international, a director of anheuserbusch inbev, as well as chairman of kraft heinz.
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