Heinz says Tegel still for sale

Ketchup and packaged food producer HJ Heinz said yesterday that it had still not found a buyer for its struggling New Zealand poultry company Tegel.

The company has been on the block for nearly a year, although Heinz only formally announced it in May. It said then it could take six to nine months to sell.

Heinz said yesterday at its quarterly result briefing it was still trying to sell its European seafood business and Tegel, both of which weighed down first-quarter profits.

Heinz said sales in Asia Pacific increased 9.9 per cent, with sales volumes up 4.7 per cent, reflecting strong performances in Australia and Indonesia.