U.S. food giant H.J. Heinz has agreed to buy Danone's U.K.-based HP Foods business for about $855 million in a deal that puts HP and Lea & Perrins sauces under the same roof as Heinz ketchup.
The cash purchase would help Pittsburgh-based Heinz focus more around core areas like condiments, meals and snacks and infant nutrition, while France's Danone would focus almost exclusively on water, yogurt and biscuits.