Heinz to Acquire Sauce Units of Groupe Danone
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H.J. Heinz Co. agreed to buy the HP Foods and Lea & Perrins sauce divisions from Groupe Danone of France for $852 million in a move that one analyst says positions Heinz to possibly gain global control of the sauce market.
Danone’s sauce brands, marketed primarily in Britain, the U.S. and Canada, accounted for close to $292 million in revenue last year, Danone said.
William Johnson, chairman and chief executive of Pittsburgh-based Heinz, said the acquisition was in line with the company’s goal to strengthen business in the sauce sector.
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