Nancy's serves Heinz appetite for growth
Jul 19, 2005 9:11 AM, from staff and wire reports
H J Heinz Co has agreed to purchase from affiliates of Kohlberg & Co LLC privately held Nancy’s Specialty Foods Inc, a producer of frozen appetizers, quiche entrees, and desserts. Terms of the agreement were not disclosed.
Nancy’s branded products, which are marketed mainly through United States club stores and retail grocery outlets, as well as select retailers in Canada, generate about $64 million in annual net sales. These branded products are also sold to US restaurants and other foodservice venues.
The acquisition adds to Heinz’s portfolio of frozen appetizers, snacks, and dessert brands, which includes Delimex, TGI Friday’s, Bagel Bites, and Poppers.
"This acquisition is perfectly aligned with Heinz's strategy to focus on core areas of expertise to drive profitable growth," said William R Johnson, chairman, president, and chief executive officer of Heinz.
