FDBusiness.com

Heinz Continues Drive into Emerging Markets With Expansion in China

 Breaking News
  • Greencore to Divest US Business in $1 Billion Deal Greencore Group, the Irish and UK convenience food business, has agreed to sell its entire US business to an affiliate of Hearthside Food Solutions for US$1.075 billion (£817 million) on a cash and debt-free basis. Hearthside is a major US contract food manufacturer with a heritage in US food industry outsourcing. The disposal will leave [...]...
  • The Macallan’s Pioneering New Distillery Installs Flowcrete UK Flooring The new distillery for luxury whisky brand The Macallan has installed a variety of Flowcrete UK floors to create surfaces that would reflect its visual identity and maintain the functional properties required to produce this iconic Scottish spirit. When Edrington, the international spirits group that owns The Macallan, decided to build a £140 million facility to meet increasing global [...]...
  • New Pearl Range Launched to Help Reduce Risk of Cross Contamination Single use glove specialist Unigloves has launched the brand new 15-glove Pearl Colour System nitrile gloves range, helping organisations across the food sector more effectively manage cross contamination risks. The expanded range, combines high quality food handling approved, AQL 1.5 medical grade, powder-free nitrile gloves available in a range of colour finishes – including those [...]...
  • Signed Sealed Delivered With the increased customer focus on postable items such as confectionery, drinks and gifts, UK plastic bottle manufacturers Measom Freer have developed their very own Post Bottle (Ref 6143). With a flat rectangular shape, the bottle can easily be boxed and posted through standard letterboxes, fitting the UK large letter dimensions. Made from clear PVC, which [...]...
  • Irish Distillers to Invest €150 Million in Sites in Cork and Dublin Irish Distillers has announced investment of over €150 million in its sites in Cork and Dublin to meet demand for its products as the Irish whiskey renaissance continues apace. This is accelerated by the continued growth of the company’s flagship Jameson brand, which is now in double or triple-digit growth in more than 80 markets [...]...

Heinz Continues Drive into Emerging Markets With Expansion in China

Heinz Continues Drive into Emerging Markets With Expansion in China
June 24
14:37 2010

HJ Heinz is acquiring Foodstar, a leading manufacturer of soy sauces and fermented bean curd in China, from Transpac Industrial Holdings, a private equity firm. The acquisition will increase Heinz’s annual sales in China to about $300m and enable the group to enter the nation’s fast-growing $2b retail soy sauce market.

The purchase price consists of a cash payment at closing of $165m and an earn-out potentially payable in 2014 based on the performance of the business. The completion of the proposed acquisition is subject to regulatory approval in China.

Foodstar’s Master Weijixian light premium soy sauce is the leading brand of Weijixian soy sauce in the southern region of China. Foodstar’s Guanghe fermented bean curd, a popular flavor enhancer that is used in cooking, also holds a strong regional market position. Based in Guangzhou, Foodstar has four manufacturing sites and 2,500 employees in China. A new manufacturing facility is being constructed in Shanghai.

“The acquisition of Foodstar gives Heinz a strong growth platform in China’s huge, rapidly growing soy sauce market. Foodstar’s leading brands have strong equity with Chinese consumers and they are a natural fit with our core global capabilities in sauces and condiments,” says William Johnson, chairman, president and chief executive of Heinz. “The acquisition is another important step in our strategy to accelerate growth in dynamic emerging markets like China, where Heinz is already well positioned with our growing infant nutrition business and Long Fong, a leading brand of frozen dim sum.”

Heinz has been in China, the world’s most populous nation, since the 1980’s, when the US-based food giant opened a factory in Guangzhou to produce Heinz infant cereal. Including China, emerging markets generated approximately 30% of Heinz’s reported sales growth and 15% of the company’s total sales in fiscal 2010. Heinz expects emerging markets to generate as much as 25% of sales by 2016.

About Author

colin

colin

Related Articles



Food & Drink Business Conference & Exhibition 2016

Upcoming Events

  • October 18, 2018Future Food-Tech London - Marketing Partnership
  • October 21, 2018Int'l Food Products Exhibition (Sial)
  • October 25, 2018Italian Espresso Coffee Show (TriestEspresso Expo)
  • October 25, 2018Finnish Food Fair
AEC v1.0.4

find food jobs

The Magazine

F&D Business Preferred Suppliers

New Subscriber





Subscribe Here



Advertisements