February 22, 2011

Brasil Foods' shares soar on US billionaire's investment

Shares in Brasil Foods have rocketed in value following reports that US billionaire Warren Buffett's investment vehicle, Berkshire Hathaway, has started buying shares in the world's major poultry exporter.

According to Brazil's local news, Berkshire Hathaway began buying up shares in the company after fund managers visited Brasil Foods last week. The report cites an unnamed investor familiar with the matter.

Shares in the company, which climbed 4.2% to GBP18.19 (US$29.43) on Friday (Feb 21), up from an open of GBP17.95 (US$29.04).

When contacted by just-food, Brasil Foods declined to comment on its share price or investor profile. Berkshire Hathaway was unavailable at time of press.