PITTSBURGH & LONDON--Feb. 22, 2006--H.J. Heinz Company (NYSE:HNZ) today welcomed the announcement by the UK Competition Commission that it has provisionally cleared the completed acquisition by Heinz of the HP Foods Group.
The press release from the competition commission and the provisional findings can be viewed by clicking on the icons below.
"Heinz is delighted with the initial findings of the Competition Commission and we continue to cooperate fully with them as they review the merits of our acquisition of HP Foods," said William R. Johnson, Heinz Chairman, President and CEO. "The initial findings are in line with our expectations and we remain confident that this acquisition will meet the criteria for final clearance by the Competition Commission."
The Competition Commission is expected to issue its final report by April 11, 2006.
On August 16, 2005, Heinz completed its acquisition of HP Foods for GBP 470 million in cash. The transaction included culinary brands such as Lea & Perrins(R) Worcestershire Sauce, HP(R) sauces and a license to market Amoy(R) Asian sauces brands in Europe.