USA: Heinz builds its international sauce business with niche acquisitions in Singapore and France
H. J. Heinz Company (NYSE:HNZ) has added two niche businesses to its international portfolio of brands with the acquisition of French sauce maker Comexo of Chateaurenard, near Paris, and Sinsin Food Industries Pte Ltd. of Singapore, a marketer of popular chili sauce and other Asian condiments. "Both of these new businesses, while relatively small, are important additions to Heinz's flavor and taste solutions strategy," noted William R. Johnson, Heinz Chairman, President and Chief Executive Officer. "This category represents more than US$2.4 billion in global sales and is led by our flagship product, Heinz Ketchup®. In France, the addition of Comexo's specialized sauces for the restaurant trade will allow us to further expand our growing European sauce business and foodservice businesses. Sinsin will complement Heinz's growing sauce business in Asia, where we are now the world's second-largest marketer of soy sauce with our ABC® brand."
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