USA: Borden Foods announces sale of key businesses to H.J. Heinz
Borden Foods Corporation yesterday announced that it has reached a definitive agreement to sell two key businesses within the Borden Foods portfolio to the H.J. Heinz Company (NYSE:HNZ). The Borden Foods pasta sauce and soup and bouillon businesses in the U.S., Canada and internationally are being acquired by Heinz, headquartered in Pittsburgh, Pennsylvania. The transaction includes production facilities in Pennsauken, New Jersey, and Northbrook, Illinois. Aggregate annual sales are approximately $270 million.
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