Friday, April 1, 2011

H.J. Heinz Company: $HNZ Completes Acquisition of 80% Stake in Brazilian Foodmaker to Accelerate Growth in Emerging Markets

PITTSBURGH--(BUSINESS WIRE)--April 1, 2011--H.J. Heinz Company (NYSE:HNZ) today announced that it has completed its acquisition of an 80% stake in Coniexpress S.A. Industrias Alimenticias, a leading Brazilian manufacturer of the Quero brand of tomato-based sauces, tomato paste, ketchup, condiments and vegetables. The acquisition of the Quero business, which has annual sales of approximately $325 million, gives Heinz its first major business in Brazil, a key Emerging Market and the world’s fifth most populated nation. Terms of the acquisition were not disclosed.

Source - 8K filing

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