Heinz Ponders Hain Celestial Share Sale
Heinz is redeploying its assets and concentrating on driving growth and shareholder value in the three core categories of Condiments and Sauces, Meals and Snacks and Infant Nutrition
05/12/05 In keeping with H. J. Heinz Company's (NYSE:HNZ) growth strategy announced earlier this year to focus on its three core categories and to explore the divestiture of non-core businesses around the world, Heinz has agreed with The Hain Celestial Group, Inc. (NASDAQ:HAIN) to explore the sale of approximately 6.1 million shares that it owns in Hain Celestial.
Commenting on the registration of the Hain Celestial shares, the Heinz Company said: "Heinz has for six years enjoyed our relationship with Hain Celestial as it has grown in the natural foods and personal care sectors. We are now redeploying our assets and concentrating on driving growth and shareholder value in the three core categories of Condiments and Sauces, Meals and Snacks and Infant Nutrition where we have leading brands and world-class capabilities."
