Buying well-known consumer brands unlikely to be derailed by the digital age may be the key to the billionaire's success.

This article titled “Warren Buffett to buy Heinz in record food industry takeover” was written by Dominic Rushe in New York, for The Guardian on Thursday 14th February 2013 20.43 UTC

Beanz now meanz Buffett: the world's third richest man and most successful investor has turned his attention to store-cupboard comfort foods and snapped up the Heinz baked beans and ketchup firm in a deal worth $28bn (£18bn).

Warren Buffett, known as the Sage of Omaha and famous for his down-home approach to investment – buying well-known consumer brands unlikely to be derailed by the digital age – has linked up with the world's 69th richest man, Jorge Paulo Lemann of Brazil, to pull off the biggest takeover the food business has seen.

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