US food giant Heinz revealed plans on Sunday to invest 100m zloty (US$24m) in Polish food company Pudliszki.
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According to local newspaper Gazeta Wyborcza, the investment will see Heinz buy up new shares to be issued at the beginning of next year.
The money will be spent on renovating Pudliszki ready meals plants in Miedzychod and Wodzislaw, which it acquired at the end of August this year. Both food plants are currently operating at a loss and last year posted net losses of 17.3m zloty and 4.7m zloty respectively.
Heinz already controls nearly 100% of Pudliszki, a company that is aiming to control 30% of the ready meals market in Poland.
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By GlobalData
