Skip to main content
BBC NEWS / BUSINESS
Graphics Version | BBC Sport Home
News Front Page | World | UK | England | Northern Ireland | Scotland | Wales | Business | Politics | Health | Education | Science & Environment | Technology | Entertainment | Also in the news | Video and Audio | Have Your Say | Magazine |
Business Contents:  Your Money | Economy | Companies

Friday, 15 February 2008, 07:22 GMT

Buffett buys stake in Kraft Foods

Warren Buffett Billionaire US investor Warren Buffett has built up an 8.6% stake in Kraft Foods, worth $4.32bn (£2.2bn), making him its largest individual shareholder.

The shares were bought last year, according to the customary filing lodged with the Securities and Exchange Commission, the US financial watchdog.

It was also revealed that Mr Buffett has spent $76m on shares in UK drugs firm GlaxoSmithKline.

Mr Buffett's investments are closely watched by analysts.

Brand name focus

His investment in Kraft is being seen as a vote of confidence in the firm, which only last month posted a 6% decline in quarterly profits after it was hit by higher raw material costs.

Kraft's best-known products include its eponymous cheese, Maxwell House coffee and Oreo cookies.

"Mr Buffett likes brand names with good franchises and clearly Kraft has a number of those," said Jerry Bruni, a portfolio manager at JV Bruni and Co in Colorado Springs.

Mr Buffett bought the shares through his Berkshire Hathaway investment vehicle.



E-mail this to a friend
Related to this story:
Buffett offers deal to insurers (12 Feb 08 |  Business )
Buffett sells PetroChina shares (19 Oct 07 |  Business )
Chinese oil firm plans share sale (20 Jun 07 |  Business )
China claims major oil field find (04 May 07 |  Business )
Buffett's $48bn donation deadline (02 Mar 07 |  Business )
Buffett headlines at Berkshire gathering (06 May 07 |  Business )

RELATED INTERNET LINKS
Berkshire Hathaway
Kraft
GSK
The BBC is not responsible for the content of external internet sites



SEARCH BBC NEWS: 

News Front Page | World | UK | England | Northern Ireland | Scotland | Wales | Business | Politics | Health | Education | Science & Environment | Technology | Entertainment | Also in the news | Video and Audio | Have Your Say | Magazine |
Business Contents:  Your Money | Economy | Companies

NewsWatch | Notes | Contact us | About BBC News | Profiles | History

^ Back to top | BBC Sport Home | BBC Homepage | Contact us | Help | ©