3G Capital, the private-equity firm founded by Brazilian billionaire Jorge Paulo Lemann, agreed to acquire Kraft Foods Group Inc. in partnership with Warren Buffett’s Berkshire Hathaway Inc. and merge it with H.J. Heinz.

Kraft shareholders will receive 49 percent of the stock in the combined company, plus a special cash dividend of $16.50 a share, the companies said in a statement Wednesday. Berkshire and 3G will invest another $10 billion in the combined company, which will be known as Kraft Heinz Co., headquartered in Pittsburgh and the Chicago area, and led by Heinz Chief Executive Officer Bernardo Hees.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.