H. J. Heinz Company (NYSE:HNZ) has added two niche businesses to its international portfolio of brands with the acquisition of French sauce maker Comexo of Chateaurenard, near Paris, and Sinsin Food Industries Pte Ltd. of Singapore, a marketer of popular chili sauce and other Asian condiments.
“Both of these new businesses, while relatively small, are important additions to Heinz’s flavor and taste solutions strategy,” noted William R. Johnson, Heinz Chairman, President and Chief Executive Officer. “This category represents more than US$2.4 billion in global sales and is led by our flagship product, Heinz Ketchup®. In France, the addition of Comexo’s specialized sauces for the restaurant trade will allow us to further expand our growing European sauce business and foodservice businesses. Sinsin will complement Heinz’s growing sauce business in Asia, where we are now the world’s second-largest marketer of soy sauce with our ABC® brand.”
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Annual sales for the newly acquired businesses are a combined US$14 million. Terms of the transactions were not released.
COMEXO
Comexo, operated by the widely known and respected French Chef Didier Giroux, is a leading maker of very high-quality sauces sold to French restaurants and caterers.
“Comexo’s expertise is in producing reciped white sauces in small volumes on very short notice. This allows Comexo to develop specific sauces for specialty items on a restaurant’s menu,” explained David R. Williams, Heinz Executive Vice President and President for Heinz Europe.
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By GlobalDataIn addition to white sauces, Comexo offers an extensive range of cold or reheatable oil-based sauces, marinades, vinaigrettes, thematic sauces and flavored oils. It also offers organic products (mayonnaise, vinaigrette and other traditional sauces), plus cholesterol-free, salt-free and other made-to-order sauces.
Comexo was previously owned by 3i (one of Europe’s leading venture capital companies), other financial institutions, and certain managers of the company, including Mr. Giroux.
SINSIN
Sinsin® is the leading name in chili sauces in Singapore, where it has been an iconic brand since its 1954 introduction. The Sinsin® range also includes soy sauce, salted soya beans, tomato ketchup, oyster sauce and other Asian condiments. Sold primarily in Singapore, the sauces are exported to nearly 30 other countries.
“Our goal is to further expand and reinvigorate the Sinsin® brand and to establish it internationally,” noted John Crawshaw, Area Vice President for Heinz Asia.
The word “sinsin” is actually an English translation of the Chinese symbols for “new, new.”
Heinz’s Asian headquarters are located in Singapore, and the company has been selling an array of Heinz products into the country through Harpers Trading.
This news release contains forward-looking statements regarding the company’s future performance. These forward-looking statements are based on management’s views and assumptions, and involve risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed or implied in the forward-looking statements. These include, but are not limited to, sales, earnings and volume growth, competitive and industry conditions, production costs, achieving cost savings programs, acquisitions or disposals of business assets and new product and packaging innovations, and other factors described in “Cautionary Statement Relevant to Forward-Looking Information” in the company’s Form 10-K for the fiscal year ended May 3, 2000, as updated from time to time by the company in its subsequent filings with the Securities and Exchange Commission. In particular, any predictions about these acquisitions could be affected by integration problems; failure to achieve synergies; unanticipated liabilities; participation in new business lines; and changes in competitive environment.
ABOUT HEINZ: With sales over US$9 billion, H. J. Heinz Company is one of the world’s leading marketers of branded foods to consumers everywhere, whether in supermarkets, restaurants or on the go. Its 50 companies operate in some 200 countries, with more than 20 power brands, including the Heinz® brand with nearly US$3 billion in annual sales. Among the company’s famous brands are Heinz®, StarKist®, Ore-Ida®, 9-Lives®, Wattie’s®, Plasmon®, Farley’s®, Smart Ones®, Bagel Bites®, John West®, Petit Navire®, Kibbles `n Bits®, Pounce®, Pup-Peroni®, Orlando®, ABC®, Olivine®, Juran® and Pudliszki®. Heinz also uses the famous brands Weight Watchers®, Boston Market® and Linda McCartney® under license. Information on Heinz is available at http://www.heinz.com.
