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Heinz to buy Australian fruit juice maker
Monday, October 06, 2008

Pittsburgh-based food company H.J. Heinz Co.'s Australia division has announced an agreement to buy Australian fruit juice maker Golden Circle for about $288 million.

Golden Circle's board has recommended accepting the deal, according to statements from the two companies. Shareholders will be asked to vote in December, with at least 75 percent required to OK the plan.

Heinz described Golden Circle as a leading "health and wellness" brand and said it plans to keep the acquired company's factories in Northgate and Mill Park, as well as honor contracts with growers.

Golden Circle was founded in 1947 and has about 1,000 employees. Heinz Australia has been making products in that country since 1935 and has around 650 employees.

First published on October 6, 2008 at 10:00 am
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