Heinz acquires Egyptian ketchup producer

World famous food manufacturer Heinz has bought the remaining shares in Cairo Food Industries S.A.E.

Heinz bought the remaining 49 per cent of shares in the Egyptian Ketchup and condiment manufacturer at the end of last week. Previously it had held a 51 per cent share.

In the US Heinz is already the biggest selling ketchup brand and has been named as one of the most trusted brands in America eight years running by the University of Michigan's Annual Consumer Satisfaction Survey.

Michael D. Milone, senior vice president of Heinz, said: "The acquisition of the remaining 49 per cent shares of Cairo Food Industries fits perfectly into Heinz's global strategy to focus its portfolio on three attractive core categories: Ketchup & Sauces, Infant/Nutrition and Meals & Snacks."

He added that that the acquisition should increase the company's growth in the Middle East and Egypt as part of its emerging markets strategy.

The Heinz worldwide portfolio of brands includes the Heinz beans range in the UK, the Plasmon baby food range in Italy and the Long Fong brand in China. It currently operates in Egypt, Israel and Dubai in the Middle East.