Heinz Targets Brazil As Part Of Emerging Market Push

US food group Heinz has announced plans to purchase an 80% stake in Brazilian tomato sauce group Coniexpress, which produces the Quero brand of ketchup, tomato sauces, vegetables and condiments. The business generates revenues of US$325mn and sources in the local press suggest the sale price was between BRL1-1.2bn (US$0.6-72bn). The move will double Heinz's sales in Latin America and give it a strong base to build up its presence in the highly attractive Brazilian market.

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