Warren Buffet's giant stash of ketchup

It would be a travesty if the billionaire ever runs out of sauces for his steaks and his hamburgers. The Sage of Omaha completes his purchase of the venerable H.J. Heinz Co.

The sage's sauce. Warren Buffet, known as the Sage of Omaha, has completed his acquisition of H.J. Heinz in partnership with 3G Capital.

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It would be a travesty if Omaha billionaire Warren Buffet ever runs out of sauces for his steaks and hamburgers.

Buffet, one of the world's richest men, has completed his joint $28 billion purchase of Pittsburgh's H.J. Heinz Co., the Pittsburgh Post-Gazette reported.

The well-known investor and philanthropist bought the venerable $11.6 billion condiment and food company, in partnership with 3G Capital.

When Warren Buffet wants to find the ketchup, all he has to do is look in his portfolio.

3G is a New York and Rio de Janeiro investment firm that - get this for business synergy - also owns Burger King. Not only should Buffet never go without ketchup, but if your Whopper is ever bereft of the tomatoey stuff, it would be a downright capital offense.

The acquisition takes the 144-year-old company out of public ownership and into private hands.

In case you think I'm leaping to conclusions about the famous Nebraskan's eating habits, the website FitMole wrote this a couple years ago:

"Warren Buffett isn’t like most rich people. This man doesn’t like caviar and $100 slices of sashimi. Instead, he enjoys junk food more and eats everything from Cheetos and Coca Cola to big juicy steaks from his hometown in Omaha, Nebraska. Even at his age, he doesn’t really view food as unhealthy or healthy, he just views it as energy."

If you subscribe to the business advice that says you should deal only in fields that you know about, then this latest Buffet transaction should be another one that runs well.

Photos: Heinz sign from ffffound. Buffet and burger from Sharequote via Jahanc.

This post was originally published on Smartplanet.com

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