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. May 07, 2017 moreover, 3g capital, mr buffetts fellow investors, had a reputation for aggressively cutting costs and jobs. Cofounder, ceomanaging partner, and board member of 3g capital since late 2004. This article is by no mean a complete history of 3g capitals involvement with heinz. 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. Burger king to be acquired by 3g capital denver business. That meal would lead to the deal that the investment community has been anticipating for years and some pittsburghers have been dreading. The lean and mean approach of 3g capital financial times. North america, latin america west, latin america north, latin america south, emea, asia pacific and global export and holding companies. 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.
Alex behring, a managing partner at 3g capital said. Bill ackmans hedge fund pershing square capital management, is burger kings largest investor after 3g. View alex behrings profile on linkedin, the worlds largest professional community. Alex behring r, managing partner at 3g capital, listens to heinz chairman, president and ceo william r. Behring chairs kraft heinz and is cochairman of restaurant.
Kraft heinz picks up a millenial cfo global finance magazine. Alexandre behring da costa born 1967 is a brazilian businessman. How they managed to get this far from their home at brazil is a completely fascinating story. 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. 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. Kraft heinz chairman and 3g capital cofounder alexandre behring has recently moved from greenwich, conn. This is a transcript of a financial times interview by email with alex behring, co founder and chief executive of 3g capital. Kraft, heinz merger driven by buffett and 3g likely to mean. Major cutbacks are likely coming for kraft and heinz.
Confidence on upswing, mergers make comeback the new york times. We approached heinz to explore how we might work together to expand the value of this storied brand. 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. 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. Lemanns 3g associates bernardo hess and alex behring would run heinz as ceo and chairman, respectively. Mar 25, 2015 the direction for justannounced kraft heinz co. 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. Alex behring reveals his investment philosophy financial times. Alexandre behring da costa is a chairman at the kraft heinz co. Heinz company enters into agreement to be acquired by. Heinz co before its blockbuster deal to be acquired by warren buffett and brazils 3g capital, it emerged today.
Founding partner alex behring talks about the strategy transforming the beer and food industries. The twoway the deal would create the worlds fifthbiggest food and beverage company. Why warren buffett loves doing deals with 3g capital less than two years in, berkshire hathaways investment in h. It operates through the following geographical segments. 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.
Find all the books, read about the author, and more. The success of these deals has resulted in 3g and mr. Mar 26, 2015 3g capital, warren buffetts favorite partner in deals worth billions warren e. Heinz and kraft agree to merge with warren buffetts help. Behring is a founding partner and has been managing partner and a board member of 3g capital, a global investment firm, since 2004. Nov 18, 2014 alexandre behring, who is the managing director of 3g capital ltd.
He is a co founder and managing partner at 3g capital, executive chairman of restaurant. Johnson l during a news conference to announce that heinz has agreed to be bought by. Fbi probes insider trading day before heinz was bought by. A confluence of factors has driven the recent deals. This is a transcript of a financial times interview by email with alex behring, cofounder and chief executive of 3g capital. Anheuserbusch inbev, restaurant brands international burger king, tim hortons, and popeyes louisiana. Alexandre behring, managing partner, 3g capital partners. Behring then became a partner in the largest privateequity firm in latin america, gp investimentos, from 1994 to 2004. Behring is a brazilian native who graduated from harvard business school in 1995 and lives in greenwich, conn. The brazilians behind the heinz deal the new york times. New york 3g capital, an investment firm, has entered into an agreement to acquire burger king holdings, inc. Alex behring, 3g managing partner, became the chairman of the merged company, and another 3g partner, bernardo hees, became heinzs ceo. Backed by buffett and greenwich investor, kraft heinz. Alexandre behring da costa the kraft heinz company 3g capital partners.
The deal, engineered by heinzs owners, brazilian privateequity firm 3g capital and warren buffetts omaha, neb. Our combined brands and businesses mean increased scale and relevance both in the u. May 07, 2017 this is a transcript of a financial times interview by email with alex behring, cofounder and chief executive of 3g capital. Billionaire jorge paulo lemann cofounded 3g with alex behring, carlos alberto sicupira, marcel herrmann telles and roberto thompson motta. 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. In 3g capital, buffett finds goto partner by gelles. Aug 31, 2017 in early february, 3g ceo and kraft heinz chairman alex behring met polman for lunch at unilevers london offices. How the brazilian trio behind 3g capital jorge paulo lemann, marcel telles and beto sicupira acquired anheuserbusch, burger king and heinz kindle edition. Anheuserbusch inbev, restaurant brands international, kraft heinz as well as partnering with berkshire hathaway for. Buffett publicly proclaiming their mutual affection for each other. Heinz to merge with kraft to create us food giant telegraph. We dont need to go anywhere that we are not welcome by shareholders in order to do a deal, says 3g ceo and kraft chairman alex. Alexandre behring is a cofounder and the managing partner of 3g capital, a multibilliondollar brazilborn, u. The warren buffett of brazil behind the offer for unilever the new.
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. Anheuserbusch inbev sanv operates as a holding company, which engages in the manufacture and distribution of alcoholic and nonalcoholic beverages. 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. Otoole and gary wilson collectively, the participants issued certain materials filed herewith as exhibits 1, 2 and 3. See 3g capitals revenue, employees, and funding info on owler, the worlds largest. Kraft and heinz to merge in deal backed by buffett and 3g capital. 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. It would bring together under one corporate roof iconic brands such as.
Since then, the leadership of the company has been replaced by senior 3g executives. Moreover, 3g capital, mr buffetts fellow investors, had a reputation. 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. Heinz, and alex behring, a partner in 3g capital, one of the companies buying heinz. But in a rare interview, alex behring, one of 3gs founding partners and. About eight weeks ago, heinz ceo bill johnson had dinner with alex behring and jorge paulo lemann of 3g capital. 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 age of technological disruption, brought in by powerhouses like amazon, has caught.
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. Warren buffett quietly moves to reshuffle kraft heinz board. In his 20 letter, buffett lauded the partnership structure used with heinz as a. Alex behring, executive chairman of burger king and managing partner of 3g capital, said, by bringing together our two iconic companies. Eastern time at heinz world headquarters, one ppg place, suite 3100 in pittsburgh, pa. Johnson, heinz chairman, president and chief executive officer alex behring, managing partner, 3g capital. How the brazilian trio behind 3g capital jorge paulo lemann, marcel telles and beto sicupira acquired anheuserbusch, burger king and heinz by brian langis. Alexandre behring, chairman of kraft heinz and partner of 3g capital, has made a name for himself by acquiring firms. Previously served as chairman of the heinz board from june 20 to july 2015. Buffett has only good words for 3g capital, unlike other private equity firms. 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 heinz debacle proves not even buffett immune to. The childrens investment master fund, 3g capital partners ltd.
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. Buffett while discussing the merger of heinz and kraft in a call with investors. The fbi is looking into possible insider trading in the options of ketchup maker h. Bernardo hees to be appointed chief executive officer of. 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. Warren buffetts behindthescenes look at the failed kraft heinz, unilever merger.
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. Alex behring, the force behind zerobased budgeting. Anheuserbusch inbev, restaurant brands international. 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. Heinz and 3g capital invite media to attend a joint press conference today, february 14, at 11 a. See the complete profile on linkedin and discover alexs. The firm is best known for implementing zerobased budgeting at its portfolio companies. He is a cofounder and managing partner at 3g capital, executive chairman of restaurant. It later bought kraft and merged it with heinz in 2015. Jorge paulo lemanns company, 3g capital, has a record of making deals in. If the deal goes through and 3g acquires kraft foods, analysts expect to see a swift turnaround in the struggling food manufacturing companys fortunes. On wednesday, 3g s managing partner, alex behring, sang the praises of mr. Alex behring nonexecutive board member cofounder, ceomanaging partner, and board member of 3g capital since late 2004. 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.
Founding partner alex behring talks about the strategy transforming the. Mezvinsky left 3g in 2011 and has since set up is own hedge fund. Alexandre behring is ceofounding partnermng partner at 3g capital inc. We have great respect for the heinz brands, and the strong business that management and its employees operate around the world. A 3g founding partner, alex behring, is chairman of restaurant. Six years ago, 3g capital and berkshire hathaway began to build their.
Details emerge on heinz kraft merger, and what it means. Alex behring alexandre behring da costa is a brazilian businessman. Mar 28, 20 a good business book, and for anyone interested in brazilian business this is a must read. Conflicting visions killed the kraft heinzunilever deal. He does not appear on the forbes billionaires list.
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