Heinz 'in rethink on frozen foods sale'
Foods giant Heinz was today said to be reconsidering the sale of its European frozen foods business after failing to attract the price it wanted.
Heinz is thought to have put a tag of £200m (€289.7m) on the business, which includes the Linda McCartney frozen meals brand, as well as Weight Watchers from Heinz and Aunt Bessie’s under licence to Tryton Foods.
However, the Financial Times said the price was considered too expensive by trade and financial buyers, given the poor growth rates in the sector.
A spokesman for Heinz said the company continued to review its options to maximise the value of the operation.
The frozen foods and chilled food business was put up for sale in September as part of plans by Heinz to focus on ketchup, condiments and sauces, meals and snacks and baby food.
Heinz acquired the majority of its UK frozen business from United Biscuits in 1999. The division employs around 2,300 people, including 1,600 in the UK at sites including Fakenham, Leamington, Okehampton and Luton.
