US food giant HJ Heinz is about to swallow up British favourites HP Sauce and Lea & Perrins.
The £470 million ($858.5m; €701m) deal would see Heinz buy up London-headquartered HP Foods from its current owner, French food manufacturer Danone. Among other HP brands are Amoy Chinese sauces.
Heinz, maker of the iconic tomato ketchup, has recently decided to concentrate on sauces and condiments, and will give its new acquisitions major marketing support.
Says ceo William Johnson: "The acquisition of these brands is consistent with our strategy to drive growth in our profitable ands expanding core condiments ands sauces category. We have identified many opportunities to expand sales of HP, Lea & Perrins and Amoy brands."
The sale, which was flagged three months ago, marks Danone's re-focusing on its core businesses - fresh dairy products, beverages and cookies.
The deal will be subject to regulatory approval.
Data sourced from Brand Republic (UK); additional content by WARC staff