USA: Heinz to expand its US and Canadian businesses with acquisition of Borden's pasta sauce, dry soup and bouillon lines
H. J. Heinz Company (NYSE:HNZ) yesterday announced that it has signed an agreement to acquire Borden Foods Corporation's pasta sauce and dry bouillon and soup businesses, whose U.S. and Canadian annual sales total more than $270 million. Terms of the transaction were not disclosed. Under the transaction, Heinz will acquire popular brands, such as Classico® pasta sauces, Aunt Millie's® pasta sauce, Mrs. Grass® Recipe soups and Wyler's® bouillons and soups. Heinz also will acquire the Catelli®, Gattuso® (under license) and Bravo® pasta sauce brands, which are Canadian favorites.
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