July 8, 2000 |
The Federal Trade Commission said Friday that it authorized its staff to go to court to block H.J. Heinz Co.'s purchase of closely held Milnot Holding Corp., maker of Beech-Nut baby food, saying the deal would stifle competition.
June 20, 2000 |
H.J. Heinz Co. agreed to sell its can-making operations in North America, including a plant on Terminal Island, to closely held Impress Metal Packaging Holdings for an undisclosed price. Pittsburgh-based Heinz, which makes Star-Kist tuna, is the nation's largest tuna canner. Its other brands include 9-Lives cat food, its namesake ketchup and Ore-Ida frozen potatoes. The sale, along with Star-Kist's plan to introduce tuna in pouches, signals that Heinz is focusing on more convenient packaging.
June 16, 2000 |
H.J. Heinz Co. said profit from continuing operations rose 8.9% in its fiscal fourth quarter to $226.4 million, or 63 cents a share, on lower manufacturing costs and increased sales of ketchup and frozen foods. The year-ago results of $206.1 million, or 56 cents, were restated to exclude sales and profit from the Weight Watchers diet unit, sold in September. Sales rose 4.9% to $2.59 billion.
October 23, 1999 |
H.J. Heinz & Co. agreed to buy the frozen-food unit of United Biscuits Holdings for about $317 million in cash in a bid to boost its presence in Britain and Ireland. United Biscuits' frozen-food business had about $360 million in sales in 1998 and employs about 3,000 workers at plants in Britain and Spain. It makes frozen foods ranging from San Marco pizzas to Linda McCartney vegetarian foods and Jane Asher desserts.
October 5, 1999 |
H.J. Heinz & Co. said that it's combining its five North American sales operations at its Pittsburgh headquarters as part of a global restructuring to cut costs and free up money for marketing. Heinz will close its StarKist Foods Inc. and StarKist Seafood and Heinz Pet Products offices in Newport, Ky., affecting about 400 jobs. The tuna and seafood sales forces will join the company's other three units--catsup, frozen food and food service--in Pittsburgh.
September 16, 1999 |
H.J. Heinz Co. refused comment and Bestfoods denied rumors that the two companies were in merger talks, but investors bid up their shares on the prospect of a takeover boosting the value of the food companies' stocks. Englewood Cliffs, N.J.-based Bestfoods issued a statement saying "no significant acquisition or combination discussions are in progress" after a Wall Street Journal report that the two companies had discussed a merger.
April 24, 1999 |
H.J. Heinz Co. agreed to a licensing agreement it expects will let it manufacture and test sales this year of branded products under Boston Chicken Inc.'s trademarks. Heinz would pay the parent of the struggling Boston Market restaurant chain undisclosed royalty fees based on sales of products to retailers under the agreement, which is subject to approval of an Arizona Bankruptcy Court. Boston Chicken said it expects the court to consider approval of the agreement May 25.
December 17, 1998 |
The H.J. Heinz Co. said Wednesday that it is launching a new print advertising campaign touting the benefit of processed tomato products in reducing the risk of certain cancers and heart disease. The ads feature a pouring bottle of Heinz catsup and messages promoting the health benefit of lycopene, an antioxidant found in tomato products.