A Taste of Wellness for Savoury and Snacks
Givaudan
The transaction, signed in December, is valued at NZ$250 million, and is designed to allow Heinz to focus on growth in its core categories including ketchup and sauces, meals and snacks, and infant nutrition.
These are seen as faster-growing, higher margin activities.
Heinz has already sold off its European seafood unit to the merchant banking arm of Lehman Brothers and its Ethnic Foods business has been bought by Associated British Foods.
Tegel markets Tegel brand chilled and frozen chicken and turkey products and owns processing plants, feed mills and livestock operations throughout New Zealand.