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BRIEF-Pioneer Foods says to acquire full ownership of Heinz Foods SA​
November 6, 2017 / 3:06 PM / 14 days ago

BRIEF-Pioneer Foods says to acquire full ownership of Heinz Foods SA​

Nov 6 (Reuters) - Pioneer Food Group Ltd:

* ‍ACQUISITION OF OUTSTANDING 50.1% IN ITS JOINT VENTURE, FROM HEINZ FOODS SA PROPRIETARY LIMITED, A SUBSIDIARY OF KRAFT HEINZ COMPANY.​

* ‍HEINZ FOODS SA WILL BECOME A WHOLLY OWNED SUBSIDIARY OF PIONEER FOODS.​

* CO WILL ENTER INTO A 2 -YEAR AGREEMENT WITH KRAFT HEINZ PURSUANT TO WHICH THEY WILL MANUFACTURE AND DISTRIBUTE HEINZ TOMATO KETCHUP PRODUCTS​

* ‍TRANSACTION IS EXPECTED TO CLOSE IN Q1 OF 2018, PENDING REGULATORY APPROVAL.​

* ‍PIONEER FOODS WILL ALSO DISTRIBUTE HP & LEA PERRINS PRODUCTS AND CERTAIN OTHER KRAFT HEINZ PRODUCTS.​ Source text for Eikon: Further company coverage:

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