3G Capital

Notable deals

In 2010, the company acquired Burger King for $3.3 billion, and subsequently took the company private.

In June 2012, Burger King was once again listed as a publicly traded company through a $1.4 billion deal with Justice Holdings. Despite the relisting, 3G Capital retained a 71% stake of the company.

In December 2014, the Canadian government approved the purchase of Tim Hortons by 3G Capital for $12.5 billion, creating Restaurant Brands International (RBI), the world's third-largest quick service restaurant company.

In March 2015, 3G Capital partnered with Warren Buffett to acquire Kraft Foods for $40 billion, and merged it with Heinz to form the world's fifth largest food company. In June 2021, Kraft Heinz acquired Assan Foods, a Turkish company focused on sauces, for approximately $100 million. In September 2021, Kraft Heinz acquired Hemmer, a Brazilian company focused on condiments and sauces.

In 2017, RBI acquired Popeyes Louisiana Kitchen, Inc. for $1.8 billion.

In 2021, RBI acquired Firehouse Restaurant Group Inc. for $1.0 billion in 2021.

3G Capital Co-Managing Partner Daniel Schwartz, who also served as CFO, COO, and CEO at different times, is credited for turning around Burger King and later growing the Restaurant Brands International holding group.

In December 2021, it was announced that 3G Capital was acquiring a 75% stake in Hunter Douglas, a window coverings and architectural products manufacturer. The deal was completed in February 2022, and 3G Capital Partner, João Castro Neves, was appointed Hunter Douglas Group CEO.

In the fourth quarter of 2023, 3G Capital divested its 16.1% stake in Kraft Heinz.

In May 2025, 3G Capital acquired Skechers for $9.42 bn.

3G Capital Portfolio

Restaurants

• Restaurant Brands International
  • Burger King
  • Tim Hortons
  • Popeyes
  • Firehouse Subs

Beverages

• AB InBev
  • Anheuser-Busch
  • InBev
  • AmBev

Manufacturing

• Hunter Douglas

Clothing

• Skechers

References

References

1. Fontanella-Khan, James. (2021-12-31). "3G Capital buys majority stake in Hunter Douglas for $7.1bn". Financial Times.
2. Tucker, Hank. "3G Capital Unfazed By Trade War With China In $9 Billion Skechers Deal".
3. (26 March 2015). "3G Capital, Warren Buffett's Favorite Partner in Deals Worth Billions". The New York Times.
4. (30 June 2016). "Zero-Based Budgeting Is Not a Wonder Diet for Companies". Harvard Business Review.
5. Cheng, Evelyn. (17 February 2017). "3G and Buffett's Berkshire behind what could be the largest US purchase of a foreign company". CNBC.
6. (7 May 2017). "The lean and mean approach of 3G Capital". Financial Times.
7. (7 March 2017). "Can 3G Capital Keep Thriving on Acquisitions and Cost Cutting?". The New York Times.
8. "3G Capital to Acquire Controlling Interest in Hunter Douglas".
9. (2010-09-02). "Burger King agrees to $3.3 billion sale to 3G Capital". Reuters.
10. Warner, Melodie. (1 August 2012). "Burger King's New Menu, Marketing Boost Profit". WSJ.
11. (27 January 2015). "Tim Hortons confirms layoffs at headquarters, regional offices". CBC News.
12. (25 March 2015). "Kraft and Heinz merger to form world's fifth-largest food company". Reuters.
13. (25 March 2015). "Is Buffett behind 3G Capital's $40 billion play for Kraft Foods?". Fortune.
14. (2021-06-15). "Kraft Heinz To Acquire Assan Foods In International Expansion".
15. (April 4, 2022). "Kraft Heinz snaps up condiments & sauces brand Hemmer in Brazil".
16. Whitten, Sarah. (2017-02-21). "Restaurant Brands in deal to acquire Popeyes Louisiana Kitchen for $1.8 billion".
17. Lucas, Amelia. (2021-11-15). "Burger King parent Restaurant Brands International buys Firehouse Subs for $1 billion".
18. Sorvino, Chloe. "Whopper Of A Turnaround: At Burger King, The 3G Capital Model Actually Worked".
19. Peterson, Hayley. "How a 36-year-old Wall Street prodigy saved Burger King".
20. Weir, Keith. (2021-12-31). "3G Capital branches out with $7.1 billion Hunter Douglas deal". Reuters.
21. MarketScreener. (2022-02-25). "Hunter Douglas N : 3G Capital completes acquisition of controlling interest in Hunter Douglas - MarketScreener".
22. (9 April 2024). "3G Capital quietly exited its Kraft Heinz investment last year".
23. "Skechers to be taken private by 3G Capital in biggest footwear buyout to date".
24. (5 May 2025). "Skechers to be acquired by 3G Capital in take-private deal, shares soar 25%". NBC Connecticut.