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Pioneer Foods to wholly acquire Heinz Foods SA
Pioneer Food Group Limited is to acquire the remaining 50.1% from Heinz Foods SA Proprietary, making it a wholly owned subsidiary of Pioneer Foods. The transaction is expected to close in the first quarter of 2018, pending regulatory approval.
As part of the acquisition agreement, Pioneer Foods will enter a two-year agreement with Kraft Heinz in which Pioneer Foods will manufacture and distribute Heinz tomato ketchup products. Pioneer Foods will also distribute HP & Lea Perrins products and certain other Kraft Heinz products.
