Heinz Completes Joint Venture In Indonesia

H.J. Heinz Company (Pittsburgh, PA)has completed a joint venture with ABC Central Food Industry of Jakarta, Indonesia's leading ketchup and sauce producer. The new joint venture, PT Heinz ABC Indonesia, will continue ABC Central Food's business.

"Heinz's growth strategy is to globalize its core categories, such as ketchup and sauces, and to invest in businesses with strong number one or number two brands that bring economies to scale," said William Johnson, Heinz president and CEO. "By investing in Indonesia at this time, Heinz is taking a long-term view on the strength of this important consumer market of more than 200 million people."

The ABC brand is known for its popular "kecap" (a sweet soy sauce consumed with almost every meal as either a table-top condiment or ingredient). It produces Indonesia's top brands "sambal" (a hot chili sauce) and "kecap asin" (a salty soy sauce).

H.J. Heinz Company is best known for its variety of food products that include StarKist, Weight Watchers, The Budget Gourmet, and Ore-Ida.