Buffett: Consumer Packaged Goods Industry ‘Still A Terrific Business’
Berkshire Hathaway CEO Warren Buffett has said that the consumer goods industry is “still a terrific business” to be in, adding that 3G Capital, which helped to orchestrate the merger of Kraft and Heinz in 2015, is working hard to cut unnecessary costs out of the business.
"The 3G people have gone into certain situations where there were probably […] a lot of expenses that were not delivering a dollar of value for a dollar expended,” Buffett told Berkshire Hathaway’s annual general meeting in Omaha, Nebraska.
“They made changes very fast to a situation that probably shouldn't have existed in the first place.”
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