"We made a mistake on the Kraft part of Kraft Heinz," said Warren E. Buffett, chairman, president and chief executive officer of Berkshire Hathaway Inc., Omaha. Speaking with shareholders May 4 at the Berkshire Hathaway annual meeting, Mr. Buffett was asked whether the cost-cutting approach embraced by 3G Capital will work in the food business and whether the weakened position of brands changes his view of the long-term outlook for Kraft Heinz Co.
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