H.J. Heinz Company has agreed to purchase privately held Nancy's Specialty Foods Inc. -- producers of the Nancy's brand of premium appetizers, quiche entrées and desserts -- from affiliates of Kohlberg & Company LLC. Terms of the agreement were not disclosed.
Nancy's branded products, which are marketed primarily through U.S. club stores and retail grocery outlets, as well as select retailers in Canada, generate approximately $64 million in annual net sales. Nancy's branded products are also sold to restaurants and other foodservice venues in the United States.