Heinz Buys Sauce Brands

NEW YORK - Jun 20/05 - SNS -- H.J. Heinz Company is buying some of Groupe Danone S.A.'s sauce brands for GBP 470 million (approximately US$855 million) in cash.

The transaction includes the HP and Lea & Perrins brands and a perpetual license to market Amoy Asian sauces and products in Europe. These brands, marketed primarily in the U.K., United States and Canada, have approximately $300 million in worldwide annual sales.

The acquisition is expected to close during the next few months, pending all regulatory approvals.

The Lea & Perrins brand is the world's number-one Worcestershire Sauce and the market leader in the United States, Canada and the U.K. The HP brand of savory sauce is a leader in both Canada and the U.K.

Both brands are exported worldwide to more than 75 countries and sold through retail and foodservice channels alike. Along with Heinz Ketchup, HP and Lea & Perrins sauces sit proudly atop tables and counters in restaurants worldwide.

The Amoy brand of Asian varieties is popular in more than 40 countries. The line, which was first created in China in 1908, continues to expand and includes ever-popular soy and stir-fry sauces and noodles.