Buffett snaps up Heinz for £18bn

Baked beans and ketchup giant Heinz is being sold to US billionaire Warren Buffett in a deal worth 28 billion US dollars (£18 billion).

Mr Buffett's Berkshire Hathaway fund will acquire Heinz with backing by investment firm 3G Capital, adding the 144-year-old food group to a shares portfolio of famous names including Fruit of the Loom, Kraft, Tesco and Walmart.%VIRTUAL-SkimlinksPromo%