H. J. Heinz Company Intends to Acquire Benedicta

The acquisition is subject to normal regulatory and Works Council review. The management of Bénédicta has informed its local Works Council of this prospective transaction.

03/07/08 H. J. Heinz Company announced its intention to acquire Bénédicta, a French manufacturer of table top sauces, mayonnaises and salad dressings. Terms of the intended transaction were not disclosed.

The acquisition is subject to normal regulatory and Works Council review. The management of Bénédicta has informed its local Works Council of this prospective transaction.

“The potential acquisition of Bénédicta fits perfectly into Heinz’s global strategy to focus its portfolio on three attractive core categories, Ketchup & Sauces, Infant/Nutrition and Meals & Snacks (including baked beans, soups and pasta meals). This will contribute to our strategy to grow our sauces business in France,” said Roel van Neerbos, President, Heinz Continental Europe.

Bénédicta is one of a few century-old brands founded in France. With its long tradition of product innovation, Bénédicta was the first to introduce table top mayonnaise in France in 1957 and a few years later other varieties of table top sauces.

Throughout the years, Bénédicta which has approximately $90 million in sales, has become the French standard for quality sauces, including the traditional mayonnaise and Béarnaise sauces, as well as modern dip and barbecue sauces.

Both parties strongly believe that the proposed acquisition will enhance prospects for the long term growth of both Bénédicta and the Heinz brand.