Warren Buffett buying H.J. Heinz Co. Associated Press Copyright 2013 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Published 8:11 pm, Thursday, February 14, 2013 Billionaire Warren Buffett is dipping into the ketchup business as part of a $23.3 billion deal to buy H.J. Heinz Co., uniting a legend of American investing with a mainstay of grocery store shelves. Heinz CEO William Johnson said at a news conference that taking the company private would give Heinz the flexibility to make decisions more quickly, without the burden of having to report quarterly earnings. Heinz expects emerging markets to account for a quarter of the company's sales this year. Heinz's brands have power with shoppers that takes years to create, and it has been able to raise prices even in the highly competitive grocery business, said Brian Sozzi, chief equities analyst for NBG Productions. Berkshire has also helped finance deals before - most recently during the financial crisis of 2008, when he made lucrative deals for Berkshire when few other companies had cash.