by Christopher Freeburn | October 28, 2013 10:53 am
It was a partnership that lasted four decades. Now, it’s over.
Heinz ketchup will no longer be found at McDonald’s (MCD) restaurants. The burger chain says it is switching to other ketchup suppliers due to a “recent management change at Heinz,” a reference to the ketchup-maker’s recent acquisition by Berkshire Hathaway (BRK.A, BRK.B) and Brazilian investment firm 3G, USA TODAY notes.
McDonald’s was apparently irritated by the appointment of Bernardo Hees as CEO at Heinz. Hees was formerly the CEO of arch-rival Burger King (BKW).
The change in ketchup suppliers is likely to have little impact on Americans who buy their burgers at McDonald’s. In the U.S., Heinz ketchup is only used at McDonald’s restaurants in Pittsburgh and Minneapolis.
Heinz was taken private by the partnership between 3G and Warren Buffett’s investment firm earlier this year in a deal worth more than $23 billion.
Shares of McDonald’s rose modestly in Monday morning trading.
Source URL: http://investorplace.com/2013/10/mcdonalds-make-big-ketchup-switch-40-years/
Short URL: http://invstplc.com/1aLFvzN
Copyright ©2015 InvestorPlace Media, LLC. All rights reserved. 700 Indian Springs Drive, Lancaster, PA 17601.