Retailers, consumers and prices
H.J. Heinz makes no secret of the fact that acquisitions are part of its strategy, especially in areas like emerging markets and health and wellness.
Most recently, the company said earlier this month that it would buy Australian canned fruit and juice maker Golden Circle Ltd for about $220 million.
The company is still looking at “strategic acquisitions,” CFO Art Winkleblack told an investor conference. And the buffet of brands that Heinz can search from may never be larger.
“In the past few months, the pipeline of potential acquisitions has risen to unprecedented levels,” Winkleblack said.
“It would appear that the pipeline of potential acquisitions has risen because there are less private equity buyers in the market due to the current financial situation,” he said later through a spokesman.
The acquisitions Heinz cited were smaller ones that mostly added to existing categories. No reference was made to anything larger, like the comment Heinz CEO William Johnson made in August that Campbell Soup Co would be a “nice fit.” Will Heinz launch a bid for Campbell Soup in 2008?