Heinz to Buy Borden Soup, Sauce Businesses
Associated Press
H.J. Heinz Co. said it will buy Borden Foods’ pasta sauce, dry bouillon and soup businesses. Terms were not disclosed.
The businesses’ annual sales in the United States and Canada total more than $270 million. The brands involved include Classico pasta sauce, Aunt Millie’s pasta sauce and Wyler’s bouillons and soups.
The products are made at plants in Pennsauken, N.J., and Northbrook, Ill.
Borden Foods is an affiliate of Borden Inc. Both are privately owned by investment firm Kohlberg Kravis Roberts & Co. and based in Columbus, Ohio.
Heinz shares fell 8 cents to close at $43.20 on the NYSE.
