“The acquisition of the remaining 49% 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 (including baked beans, soups and pasta meals),” said Michael D Milone, senior vice president, Heinz. “This is expected to contribute to our emerging markets strategy by accelerating growth of our business in Egypt and the Middle East.
“Americana has been a valued partner in CFI, and one with whom we look forward to having continuing business interactions in the future.”
Cairo Foods was founded in Egypt as a joint venture with the Americana Group in 1989.
HJ Heinz
© FoodBev Media Ltd 2024