When Warren Met Jorge Paulo: Buffett and Lemann Recall Their First Deal -<br />By VINOD SREEHARSHAAPRIL 10, 2017<br />The billionaire investors Warren Buffett and Jorge Paulo Lemann have teamed up to engineer some of the biggest<br />and boldest mergers and acquisitions in recent years, but they have rarely appeared in public together.<br />Mr. Buffett said that as they were leaving there, “Jorge Paulo brought up Heinz and I said, ‘It sounds good to me.’”<br />“And a little later, he sent one page of financial terms<br />and one page of governance terms, and just as would have been the case if I was doing something with my partner Charlie Munger, basically I did not have to change a word,” Mr. Buffett said.<br />“I consider it one of the largest mistakes in my life<br />that we didn’t really team up as partners until considerably later,” Mr. Buffett acknowledged Saturday night, but that since doing deals together, “he and I are on the same wavelength.”<br />Before the Heinz deal in 2013, the two were in Colorado together at a retreat.<br />“I’m all in favor of free trade and globalization,” said Mr. Lemann, who was one of the founders of the Brazilian<br />investment firm 3G Capital, which owns such well-known brands as Burger King, Anheuser-Busch and Heinz.
