Deals
Heinz to Sell China Packaged Food Business
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H.J. Heinz Co., the ketchup maker which agreed to be acquired in a $23 billion buyout this month, will sell its China packaged food business to Zhengzhou Sanquan Foods Co.
Zhengzhou Sanquan signed a deal with H.J. Heinz’s subsidiaries, Country Ford Development Ltd. and Heinz (China) Investment Co., to buy Shanghai Long Fong Co. on Feb. 22, Henan-based Zhengzhou Sanquan said in a statement to the Shenzhen stock exchange dated Feb. 23.