Proposal for Heinz to acquire Golden Circle

Heinz has confirmed that it has made an offer to purchase Golden Circle, one of Australia’s leading health and wellness brands in the growing ambient and chilled fruit juices market. This is in line with Heinz’s strategy of focusing on the fast-growing health and wellness sector. The offer ($1.65 a share or approximately $288 million) is subject to shareholder and regulatory approval.

Heinz has a reputation for providing nutritious foods and continues to invest in its product portfolio which is well positioned to benefit from the shift towards health and wellness food products. Heinz believes Golden Circle’s products across beverages and food would complement its existing portfolio, with similar consumer positioning and appeal. Heinz recognises the strength of the Golden Circle and Original Juice brands and considers these brands would be a complementary fit with the Heinz brand.

The board of Golden Circle has unanimously recommended the Heinz proposal and they plan to vote their shares in favour of the proposal on 14 November.

Golden Circle was founded in 1947 and has approximately 1000 employees and two factories in Australia. It is recognised as one of Australia’s top 15 brands. Other Golden Circle brands include The Original Juice Company and Popper Juice.

Heinz Australia has been manufacturing in Australia since 1935 and employs more than 650 people — including some 500 in the rural manufacturing centres of Girgarre, Echuca and Wagga Wagga.