3G Capital
{{Promotional|date=February 2025}}
{{short description|Global investment firm}}
{{Infobox company
| name = 3G Capital Inc.
| logo = 3G Capital BW.svg
| type = Private
| key_people = Jorge Paulo Lemann
Alex Behring
(Co-Founder & Co-Managing Partner)
Daniel Schwartz
(Co-Managing Partner)
| industry = Investment firm
| products = Food products, restaurants, beverages, architectural and window coverings products, clothing
| aum = U$17 billion
| num_employees = 81
| foundation = {{Start date and age|2004}}
| hq_location_city = New York City
| hq_location_country = United States
| homepage = {{URL|http://www.3g-capital.com}}
}}
3G Capital is private equity investment firm. Founded in 2004, 3G Capital evolved from the Brazilian investment office of Jorge Paulo Lemann, Carlos Alberto Sicupira, and Marcel Herrmann Telles. 3G Capital is led by Alex Behring, Co-Founder and Co-Managing Partner, and Daniel Schwartz, Co-Managing Partner.{{Cite web |date=2019-10-22 |title=Home - 3G Capital |url=https://www.3g-capital.com/ |access-date=2023-05-23 |language=en}}{{Cite news |last=Fontanella-Khan |first=James |date=2021-12-31 |title=3G Capital buys majority stake in Hunter Douglas for $7.1bn |work=Financial Times |url=https://www.ft.com/content/2671a383-e45f-49a4-83d0-83d474893f33 |access-date=2023-05-29}}
The firm is best known for its long-term investments in Anheuser-Busch InBev, Restaurant Brands International (Burger King, Tim Hortons, Firehouse Subs, and Popeyes Louisiana Kitchen), Hunter Douglas, Kraft Heinz, Skechers, as well as partnering with Berkshire Hathaway for its acquisitions.{{cite news |title=3G Capital, Warren Buffett's Favorite Partner in Deals Worth Billions |url=https://www.nytimes.com/2015/03/26/business/dealbook/3g-capital-warren-buffetts-favorite-partner-in-deals-worth-billions.html |work=The New York Times |date=26 March 2015 |access-date=25 May 2023 |last1=Gelles |first1=David }}{{cite journal |last1=Mahler |first1=Daniel |title=Zero-Based Budgeting Is Not a Wonder Diet for Companies |url=https://hbr.org/2016/06/zero-based-budgeting-is-not-a-wonder-diet-for-companies |journal=Harvard Business Review |date=30 June 2016 |access-date=30 June 2016}}{{Cite news|url=https://www.cnbc.com/2017/02/17/3g-and-buffetts-berkshire-behind-what-could-be-the-largest-us-purchase-of-a-foreign-company.html|title=3G and Buffett's Berkshire behind what could be the largest US purchase of a foreign company|last=Cheng|first=Evelyn|date=17 February 2017|work=CNBC|access-date=14 December 2017}}{{Cite news|url=https://www.ft.com/content/268f73e6-31a3-11e7-9555-23ef563ecf9a|title=The lean and mean approach of 3G Capital|publisher=Financial Times|date=7 May 2017}}{{Cite news|url=https://www.nytimes.com/2017/03/07/business/dealbook/can-3g-capital-keep-thriving-on-acquisitions-and-cost-cutting.html|title=Can 3G Capital Keep Thriving on Acquisitions and Cost Cutting?|work=The New York Times|date=7 March 2017}}
Notable Deals
In 2010, the company acquired Burger King for $3.3 billion, and subsequently took the company private. Under new management, Burger King went on to introduce a reworked menu and innovative marketing strategies.{{Cite web |date=2012-04-02 |title=Burger King launches biggest marketing, menu initiatives ever |url=https://www.qsrweb.com/articles/burger-king-launches-biggest-marketing-menu-initiatives-ever/ |access-date=2023-06-05 |website=www.qsrweb.com |language=en}}{{Cite news |date=2010-09-02 |title=Burger King agrees to $3.3 billion sale to 3G Capital |language=en |work=Reuters |url=https://www.reuters.com/article/us-burgerking-idUSTRE6801CB20100902 |access-date=2023-06-05}}{{cite web |last=Warner |first=Melodie |date=1 August 2012 |title=Burger King's New Menu, Marketing Boost Profit |url=https://www.wsj.com/articles/SB10000872396390443687504577562770509811152 |access-date=9 September 2015 |publisher=WSJ}}
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, the world's third-largest quick service restaurant company and a new global powerhouse.{{Cite web |title=World's Third Largest Quick Service Restaurant Company Launched with Two Iconic and Independent Brands: Tim Hortons and Burger King |url=https://www.rbi.com/English/news/news-details/2014/Worlds-Third-Largest-Quick-Service-Restaurant-Company-Launched-with-Two-Iconic-and-Independent-Brands-Tim-Hortons-and-Burger-King/default.aspx |access-date=2023-06-05 |website=www.rbi.com |language=en-US}}{{cite web |date=27 January 2015 |title=Tim Hortons confirms layoffs at headquarters, regional offices |url=http://www.cbc.ca/news/business/tim-hortons-confirms-layoffs-at-headquarters-regional-offices-1.2933704 |access-date=28 January 2015 |publisher=CBC News}}
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.{{cite news |date=25 March 2015 |title=Kraft and Heinz merger to form world's fifth-largest food company |work=Reuters |url=https://www.reuters.com/article/us-kraft-m-a-heinz-idUSKBN0ML0YK20150325 |access-date=25 March 2015}}{{cite news |last1=Primack |first1=Dan |date=25 March 2015 |title=Is Buffett behind 3G Capital's $40 billion play for Kraft Foods? |work=Fortune |url=http://fortune.com/2015/03/24/is-buffett-behind-3g-capitals-40-billion-play-for-kraft-foods/ |access-date=25 March 2015}} In September 2021, Kraft Heinz announced that Hemmer, a Brazilian company focused on condiments and sauces, was acquired for an undisclosed amount.{{Cite web |date=23 September 2021 |title=Kraft Heinz Enters Into Agreement to Acquire Brazilian Food Company Hemmer |url=https://ir.kraftheinzcompany.com/news-releases/news-release-details/kraft-heinz-enters-agreement-acquire-brazilian-food-company |url-status=live |archive-url=https://web.archive.org/web/20210930030607/https://ir.kraftheinzcompany.com/news-releases/news-release-details/kraft-heinz-enters-agreement-acquire-brazilian-food-company |archive-date=2021-09-30 |access-date=29 September 2021 |website=ir.kraftheinzcompany.com |language=en}} The acquisition followed an agreement with Assan Foods – a Turkish company focused on sauces – belonging to Kibar Holding, for approximately $100 million.{{Cite web |date=11 June 2021 |title=Kraft Heinz Announces Agreement to Purchase Assan Foods, Headquartered in Istanbul, Turkey |url=https://ir.kraftheinzcompany.com/news-releases/news-release-details/kraft-heinz-announces-agreement-purchase-assan-foods |url-status=live |archive-url=https://web.archive.org/web/20210613140952/https://ir.kraftheinzcompany.com/news-releases/news-release-details/kraft-heinz-announces-agreement-purchase-assan-foods |archive-date=2021-06-13 |access-date=29 September 2021 |website=ir.kraftheinzcompany.com |language=en}}
Restaurant Brands International went on to acquire Popeyes Louisiana Kitchen, Inc. in 2017 for $1.8 billion, and Firehouse Restaurant Group Inc. for $1.0 billion in 2021.{{Cite web |title=Restaurant Brands International Inc. to Acquire Firehouse Subs |url=https://www.rbi.com/English/news/news-details/2021/Restaurant-Brands-International-Inc.-to-Acquire-Firehouse-Subs/default.aspx |access-date=2023-06-05 |website=www.rbi.com |language=en-US}} 3G Capital Co-Managing Partner Daniel Schwartz who served as CFO (Jan. 2011 to Mar. 2013), COO (Mar. 2013 to Jun. 2013), and CEO (Jun. 2013 to Jan. 2019) is credited for turning around Burger King and later growing the Restaurant Brands International holding group.{{Cite web |title=About Us - Board of Directors - Person Details {{!}} Restaurant Brands International |url=https://www.rbi.com/English/about-us/board-of-directors/person-details/default.aspx?ItemId=67a9ba6f-9f5b-4d77-b9cc-601f29f80c5f |access-date=2023-06-05 |website=www.rbi.com}}{{Cite web |last=Sorvino |first=Chloe |title=Whopper Of A Turnaround: At Burger King, The 3G Capital Model Actually Worked |url=https://www.forbes.com/sites/chloesorvino/2019/04/08/whopper-of-a-turnaround-at-burger-king-the-3g-capital-model-actually-worked/ |access-date=2023-06-05 |website=Forbes |language=en}}{{Cite web |last=Peterson |first=Hayley |title=How a 36-year-old Wall Street prodigy saved Burger King |url=https://www.businessinsider.com/how-wall-street-prodigy-daniel-schwartz-saved-burger-king-2017-6 |access-date=2023-06-05 |website=Business Insider |language=en-US}} After stepping down as CEO, Daniel Schwartz went on to serve as Co-Chairman of the Board alongside Alex Behring from 2019 to 2021 and both continue to serve on the Board of Directors today.{{Cite web |title=About Us - Board of Directors - Person Details {{!}} Restaurant Brands International |url=https://www.rbi.com/English/about-us/board-of-directors/person-details/default.aspx?ItemId=541d800b-285b-4318-9277-f8b33fb6415f |access-date=2023-06-08 |website=www.rbi.com}}
Since its 2010 acquisition of Burger King Holdings, 3G Capital has been the company's largest shareholder, supporting its global growth transformation including the creation of RBI and acquisitions of Tim Hortons, Popeyes Louisiana Kitchen, and Firehouse Subs, generating approximately twenty-one times in total shareholder returns.{{Cite web |title=Restaurant Brands International Inc. Appoints Patrick Doyle as Executive Chairman to Accelerate Growth |url=https://www.rbi.com/English/news/news-details/2022/Restaurant-Brands-International-Inc.-Appoints-Patrick-Doyle-as-Executive-Chairman-to-Accelerate-Growth/default.aspx |access-date=2023-06-05 |website=www.rbi.com |language=en-US}}
On December 30, 2021, 3G Capital entered into a definitive agreement to acquire 75% of interest in Hunter Douglas, a global market leader in window coverings and a major manufacturer of architectural products.{{cite web|url=http://investor.hunterdouglasgroup.com/news-releases/news-release-details/3g-capital-acquire-controlling-interest-hunter-douglas|title=3G Capital to Acquire Controlling Interest in Hunter Douglas}} The deal was completed on February 25, 2022, for approximately US $7.1 billion.{{Cite web |date=February 25, 2022 |title=3G Capital Completes Acquisition of Controlling Interest in Hunter Douglas |url=http://investor.hunterdouglasgroup.com/news-releases/news-release-details/3g-capital-completes-acquisition-controlling-interest-hunter |access-date=June 12, 2022 |website=Hunter Douglas IR |language=en}} 3G Capital Partner João Castro Neves was appointed Hunter Douglas Group CEO.{{Cite web |last=MarketScreener |date=2022-02-25 |title=Hunter Douglas N : 3G Capital completes acquisition of controlling interest in Hunter Douglas - MarketScreener |url=https://www.marketscreener.com/quote/stock/HUNTER-DOUGLAS-N-V-6405/news/Hunter-Douglas-N-3G-Capital-completes-acquisition-of-controlling-interest-in-Hunter-Douglas-39589645/ |access-date=2025-01-11 |website=www.marketscreener.com |language=en-US}}
In the fourth quarter of 2023, 3G Capital divested its 16.1% stake in Kraft Heinz, concluding a significant chapter in the firm’s investment history.{{Cite web |title=3G Capital quietly exited its Kraft Heinz investment last year |website=CNBC |date=9 April 2024 |url=https://www.cnbc.com/2024/04/09/3g-capital-quietly-exited-its-kraft-heinz-investment-last-year.html}}
On May 5, 2025, Skechers has agreed to be acquired by 3G Capital for $9.42 bn (£7bn) in the footwear industry’s biggest buyout to date.{{cite news |title=Skechers to be taken private by 3G Capital in biggest footwear buyout to date |url=https://www.theguardian.com/business/2025/may/05/skechers-to-be-taken-private-by-3g-capital-in-biggest-footwear-buyout-to-date{{cite news |last1=Fonrouge |first1=Gabrielle |title=Skechers to be acquired by 3G Capital in take-private deal, shares soar 25% |url=https://www.nbcconnecticut.com/news/business/money-report/skechers-to-be-acquired-by-3g-capital-in-take-private-deal-shares-soar-25/3558218/?os=www.youtube.comwatchvep9iyj93qii&ref=app&noamp=mobile |access-date=5 May 2025 |work=NBC Connecticut |date=5 May 2025}}
3G Capital Portfolio
{{multiple image
| align = right
| direction = vertical
| width = 200
| image1 = 2080SM Center Pulilan Bulacan 08.jpg
| caption1 = Burger King restaurant in Bulacan, Philippines
| image2 = StLouisABPackaging Plant.JPG
| caption2 = Budweiser brewery in St. Louis, USA
| image3 = 2008-05-24 Pittsburgh 014 Penn St, 13th St, Heinz Building (2669437590).jpg
| caption3 = Heinz factory in Pittsburgh, USA
}}
= Restaurants =
= Beverages =
= Manufacturing =
= Clothing =
Offices and management
3G Capital is headquartered in New York City, and is led by Alex Behring, Co-Founder and Co-Managing Partner, and Daniel Schwartz, Co-Managing Partner.
References
{{Reflist|2}}
External links
{{portal|Brazil|US|companies}}
- {{official website|http://www.3g-capital.com}}
{{Hedge funds}}
Category:Financial services companies established in 2004
Category:Brazilian companies established in 2004
Category:2004 establishments in New York City
Category:Hedge fund firms in New York City
Category:Companies based in Rio de Janeiro (city)