December 23, 2005

Heinz sells poultry processor in New Zealand

HJ Heinz Company announced Dec 22 that it has signed a definitive agreement to sell its New Zealand animal feed and poultry processor Tegel Foods to Australasian private equity firm Pacific Equity Partners.

Tegel Foods markets Tegel brand chilled and frozen chicken and turkey products and operates processing plants, feed mills and livestock operations throughout New Zealand. Tegel was purchased by Heinz in 1992.

William R Johnson, Heinz's chairman, president and chief executive officer Tegel explained that Tegel "is not aligned with our strategic focus" for the sale. However, other details of the transaction were not disclosed.