H.J. Heinz Co. has agreed to be acquired by an investment group including billionaire investor Warren Buffett in a deal valued at $23.3 billion. The ketchup company says it's the largest deal ever in the food industry. Berkshire Hathaway and 3G Capital are making the purchase.
As food prices continue to rise, many food companies are shrinking packages instead of raising item prices. But don't be fooled: You're definitely paying more for less.
Heinz is changing its ketchup this year, introducing a different recipe and different packaging. That's a bold move for the world's most popular ketchup -- and one that also has an unfortunate resemblance to Coca-Cola's infamously bungled launch 25 years ago.