PITTSBURGH (AP) - H.J. Heinz Co. has struck a strategic alliance with
The Hain Food Group Inc. aimed at combining Hain's natural and
organic brands with Heinz's manufacturing and purchasing power.
Pittsburgh-based Heinz will pay $100 million for a 19.5% stake in
Hain, which is based in Uniondale, N.Y., under the deal announced
Monday. Heinz expects 15% to 18% growth in the natural and organic
foods market. "The natural foods industry is growing...and we expect
it to continue to grow, so Heinz must find a way to participate in
that growth," said Joseph Jimenez, president and chief executive of
Heinz North America. As part of the deal, Heinz also conveys its
Earth's Best organic baby food brand to Hain, which has been
marketing and distributing the product for a year. See
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