Heinz statement on Highbury's acquisition of Leamington plant
Heinz is bringing in Burger King CEO Bernardo Hees as its next top executive, signalling what may be the first of many changes planned by the ketchup maker's new owners. (AP / Toby Talbot)
A letter of intent has been signed with a Canadian company to acquire Leamington’s Heinz facility.
In a news release Thursday, Heinz stated they’ve signed the letter of intent with Highbury Canco Corporation, who will act as a co-packer for Heinz.
H.J. Heinz Company of Canada, Ltd.
Leamington Factory Update – February 27, 2014
Quote From Heinz
“Heinz is pleased to announce that we have signed a letter of intent with Highbury Canco Corporation, a Canadian company (Highbury Canco Corporation), to acquire the Heinz Leamington facility and for Highbury Canco Corporation to act as a co-packer for Heinz. The signing of this letter of intent is great news for Heinz and for Leamington, Ontario and is subject to the successful completion of the full transaction. A testament to the hard-working town of Leamington, Heinz received many expressions of interest in the facility, and we are pleased we were able to identify a strong new partner for the community and for Heinz,” said Michael Mullen, Senior Vice President of Corporate & Government Affairs at Heinz.
Quote from Highbury Canco Corporation
Pradeep Sood, representing the Principals of Highbury Canco Corporation said: “The Leamington Plant has an excellent workforce and Ontario’s farmers are amongst the best in the world. We believe that our investment will be the cornerstone to providing Ontario’s agricultural products around the world, not just in Canada.”
“Under the terms of this letter of intent, we will continue to manufacture certain identified Heinz products and as well provide certain distribution and logistics services to Heinz in Canada. In the next few weeks, we look forward to working closely with all our strategic partners including local farmers, the workforce, the local community and all levels of government to finalize the agreement with Heinz.” said Mr. Sood.
For further information please contact:
Senior Vice President of Corporate & Government Affairs
H.J. Heinz Company