Heinz is to enter the soy sauce business in China through the acquisition of local firm Foodstar from private-equity fund Transpac Industrial Holdings.The US food giant is to pay US$165m for the business, with the potential for a further payment in 2014 based on the performance of the Chinese firm.Heinz, which markets Amoy soy sauces in markets around the world, including the UK, said China's retail soy-sauce market was worth $2bn and growing at 7-8% a year.
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Heinz CEO, William R. Johnson argued in a presentation to investors that there are four reasons why the industry has a strong upside.

First, he highlighted the growth potential of Emerging Markets, where the ranks of new middle class, brand-conscious consumers are increasing at a rapid rate. "Emerging Markets represent a target-rich base of consumers who are likely to spend more and more of their income on branded packaged foods as they prosper", said Johnson. "Emerging Markets are on track...

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US food company HJ Heinz has acquired  the remaining 49% of Egyptian condiments and sauces maker Cairo Food Industries which was its joint venture partner. Commenting on the deal, Heinz senior vice president Michael Milone said that it also furthered Heinz' global strategy to focus its product portfolio on core categories. “The acquisition of the remaining 49% shares of Cairo Food Industries fits perfectly into Heinz’s global strategy to focus its portfolio on three attractive core catego...
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Data sourced from Seeking Alpha;
26 November 2009

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