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United States ketchup maker HJ Heinz Co is considering making further purchases in New Zealand.
The Pittsburgh-based company that already owns Wattie's in New Zealand is seeking acquisitions of food brands in Australia and New Zealand after buying Cottee's and Rose's jams and toppings from Cadbury Plc last year.
"We're always looking for similar opportunities in both countries or tied into larger corporate deals," Mike Milone, head of Heinz Australia and New Zealand, said at an analyst meeting in New York. "The recent Cottee's acquisition provided entry into a new segment. It added US$50 million ($65 million) in sales."
The two countries contribute 9 per cent to Heinz's global revenue.
Two years ago, Heinz sold New Zealand poultry company Tegel Foods for around $250 million.
It bought the Tegel business in 1992 as part of its purchase of Goodman Fielder, which also included Wattie's and Tip Top Ice Cream.
At the time, Heinz said it remained committed to the New Zealand market.
The maker of Weight Watchers and Greenseas Tuna gets 60 per cent of its sales outside the US.
Heinz reported international revenue growth outpaced gains in North America, where consumers are cutting back spending amid declining house values, higher petrol prices, and a slowing economy.
Heinz last week reported profit climbed 7.2 per cent to US$194.1 million in the quarter ended April 30, on sales that advanced 11 per cent to US$2.69 billion, helped by currency gains and price increases.
- NZPA
