H. J. Heinz Intends to Acquire Bénédicta

By admin - Posted on July 3rd, 2008

PARIS, July 02, 2008 -- H. J. Heinz Company (NYSE: HNZ) announced today its intention to acquire Bénédicta, a French manufacturer of table top sauces, mayonnaises and salad dressings. Terms of the intended transaction were not disclosed.

The acquisition is subject to normal regulatory and Works Council review. The management of Bénédicta has today informed its local Works Council of this prospective transaction.

“The potential acquisition of Bénédicta fits perfectly into Heinz’s global strategy to focus its portfolio on three attractive core categories, Ketchup & Sauces, Infant/Nutrition and Meals & Snacks (including baked beans, soups and pasta meals). This will contribute to our strategy to grow our sauces business in France,” said Roel van Neerbos, President, Heinz Continental Europe.

Bénédicta is one of a few century-old brands founded in France. With its long tradition of product innovation, Bénédicta was the first to introduce table top mayonnaise in France in 1957 and a few years later other varieties of table top sauces.

Throughout the years, Bénédicta which has approximately $90 million in sales, has become the French standard for quality sauces, including the traditional mayonnaise and Béarnaise sauces, as well as modern dip and barbecue sauces.

Both parties strongly believe that the proposed acquisition will enhance prospects for the long term growth of both Bénédicta and the Heinz® brand.

ABOUT HEINZ: H. J. Heinz Company, offering “Good Food Every Day”TM is one of the world’s leading marketers and producers of healthy and convenient foods specializing in ketchup, sauces, meals, soups, snacks and infant/nutrition. Heinz provides superior quality, taste and nutrition for all eating occasions whether in the home, restaurants, the office or “on-the-go.” Heinz is a global family of leading branded products, including Heinz® Ketchup, sauces, soups, beans, pasta and infant foods (representing over one third of Heinz’s total sales), Ore-Ida® potato products, Weight Watchers® Smart Ones® entrees, Boston Market® meals, T.G.I. Friday’s® frozen snacks, and Plasmon® infant nutrition. Heinz is famous for its iconic brands on five continents, showcased by Heinz® Ketchup, The World’s Favorite Ketchup®. Information on Heinz is available at heinz.com.

Source: H. J. Heinz Company (via BUSINESS WIRE)

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