Heinz looking to sell European subsidiaries
H.J. Heinz Co. on Tuesday said it is looking to sell its European seafood, vegetable and frozen food businesses as it tries to focus on ketchup and other businesses to grow earnings.
The overhaul of its European portfolio would replicate steps Heinz took in recent years to jumpstart its North American business and is aimed at helping the packaged food company increase revenue by 3 percent to 4 percent annually, with earnings per share rising at the upper end of a 6 percent to 8 percent range, the company said.
Source: Reuters.
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