Heinz global review marks out Tegel

It is "business as usual" for Tegel despite this week's announcement US parent Heinz is looking at selling the business.

Tegel Foods managing director Bruce Scott said Heinz's announcement of a global strategic review did not come as a surprise and was consistent with what the US company had been saying for some time.

Last November, Heinz chief executive William Johnson hinted at a possible divestment, saying the US company was assessing Tegel. On Thursday, he announced a formal strategic review of the company as part of a broader review of Heinz's international portfolio.

Scott said Tegel had been expanding its value-added range, which now made up 25 per cent of revenue.

- NZPA