H. J. Heinz Company (NYSE:HNZ) today announced that it has completed the previously announced acquisition of the CSM Food Division of CSM Nederland NV for EUR425 million (approximately US$391 million).
The acquisition makes Heinz the second-largest food company in the Netherlands and extends its business into the dry soup market. Annual sales for CSM Food Division are EUR350 million (approximately US$322 million).
CSM Food Division holds number-one and number-two brands throughout the Benelux (Belgium, the Netherlands, Luxembourg) region. Its product range includes the Honig® brand of soups, sauces and pasta meals; HAK® brand of vegetables packed in glass; KDR® brand sport drinks and fortified juices; and KDR® brand spreads and sprinkles, which are traditional toppings for breakfast breads and toasts.
The transaction was previously announced in news releases on February 27, 2001 and December 20, 2000.