H.J. Heinz - Outperformer - 500 Beiträge pro Seite

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Schwab`s Argus Report on Heinz upgraded it from a hold to a buy.

Yesterday they reiterated a strongly recommend at current depressed levels and raised 12 month target price to $50 based on:

-2nd quarter results
-foodservice recovery
-analyst meeting on the 13th:
-Johnson committed to dividend; no acquisitions over next twelve months; increased marketing spending;
-revenue loss from foreign exchange was .5% (lowest loss in 6 years); any strenghtening of euro a plus;
-would unveil a "revolution" in ketchup in February;
-a new plastic dispensing jug (ketchup);
-strong frozen food sales;
-tuna pouch more successful than expected (at higher profit margins than can);
-and low capital expenditures.

Argus report had been a hold for a long time.

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From the beginning, the driving idea was quality.

Everything except that has changed and changed again through twelve-plus decades of the H. J. Heinz Company — wave after wave of revolutions in nutrition, agronomy, processing, distribution, marketing, packaging, sales and earnings.



Revenues have climbed from the thousands in 1869 through the millions, the tens and hundreds of millions, now billions, edging towards ten billion. As Heinz markets have grown from local to national to global — from one product to a dozen, made famous through the 57 Varieties slogan at the turn of the century to several thousand today — the idea of quality, that old-fashioned virtue now born again in the most advanced theories of management, has been the Heinz mainspring.

The first product was horseradish, and the glass of its bottle was clear. There was a reason: while competitors extended their horseradish with fillers, concealed from view in green glass jars, Founder Henry John Heinz took his stand on quality and proudly displayed his product in transparent bottles. See? No leaves, no wood fiber, no turnip filler.

Henry was 25. The food processing industry was even younger, and commercial preservation in cans and bottles had yet to earn the public trust; so the typical American diet was a dreary affair. Staples as of 1869 were limited to bread, potatoes, root vegetables and meat — usually dried, smoked or salted. Cucumbers and pickles were the salads of winter; grapefruit was a distant rumor, except in Florida; tomatoes were called "love apples," an exotic Mexican fruit. And, Henry Heinz was taking the first steps in a journey that would help to change all that, forever.

After horseradish came pickles, sauerkraut and vinegar, delivered by horse-drawn wagons to grocers in and around Pittsburgh, Pennsylvania. Processing, packing and headquarters offices shared a two-story farmhouse in Sharpsburg, at the city`s northern edge.

But within five years, Heinz and partner L. C. Noble had moved to larger quarters, on their way to becoming one of the nation`s leading producers of condiments. Heinz & Noble could count among its assets a hundred acres of garden along the Allegheny River — 30 acres of horseradish — along with 24 horses, a dozen wagons and a vinegar factory in St. Louis.

In the banking panic of 1875, this overextended young enterprise was forced into bankruptcy. Heinz then discovered that the grocers he had been supplying were unwilling to extend credit even to feed his family.

With brother John and cousin Frederick, he started over in 1875. In the depression brought on by the banking collapse, it was a difficult first year, but one in which a new product was introduced — tomato ketchup. Red and green pepper sauce soon followed, then cider vinegar and apple butter, chili sauce, mincemeat, mustard, tomato soup, olives, pickled onions, pickled cauliflower, baked beans and the first sweet pickles ever brought to market. The American table was brightening, along with the Heinz ledger.

As biographer Robert C. Alberts has observed, Henry Heinz had hit on two of what he called the Important Ideas that were to shape his business from that day on: 1) That most people are willing to let someone else take over a share of their kitchen operations; and 2) That a pure article of superior quality will find a ready market through its intrinsic value — if properly packaged and promoted. Conventional wisdom now, these were bold conceptions in their day, foreshadowing what have since become the bedrock assumptions of modern quality control and consumer marketing.

And, there were sequels: 3) To improve the product in glass or can, you must improve it while still in the ground; and 4) The world is our market.

In 1886, Heinz sailed with his family to England, including in his luggage a Gladstone bag packed with "seven varieties of our finest and newest goods." In London, he called on Fortnum & Mason, England`s leading food purveyor, whose buyer tasted and promptly accepted all seven products for distribution.

Ten years later, the first overseas office opened near the Tower of London, joined in 1905 by a factory in Peckham and in 1919 by a site in Harlesden that soon became the second English plant of Heinz. Others were to follow until Heinz became a Purveyor to the Queen and most British food shoppers came to regard Heinz as a British company.

It was also in 1919 that Henry Heinz died of pneumonia at the age of 75. He was succeeded by his son, Howard, who had already taken over much of the company`s operations. By this time, the younger Heinz had introduced a regime of scientific processing and quality control into a system that included 25 factories and 200 smaller facilities, ranging from pickle salting stations to bottle plants and a seed farm.

Through the Howard Heinz era, as in that of his father, all growth was internal; even overseas ventures were built from scratch. This continued to be the policy for most of the tenure of H. J. Heinz II, who became president in 1941. The first exception was the acquisition of a food processor in the Netherlands in 1958, and soon the exception became the rule. In the next few years, companies were acquired in Italy, Portugal, Mexico, and several in the United States, crowned by the addition of Star-Kist in 1963 and Ore-Ida in 1965.

Under R. Burt Gookin, who became president in 1966, the pace of acquisitions and growth quickened. By 1972, Heinz had reached the billion-dollar mark in sales, and Mr. Gookin was ready to reorganize the company under an international management team. To the new post of senior vice president for North America and the Pacific, he named Anthony J. F. O`Reilly, then 35, who had earned high marks as managing director of the company`s United Kingdom operations.

This was a period in which the company moved rapidly into new countries, new technologies and new ways of thinking. Dr. O`Reilly became president and CEO in 1979, launching an era in which Heinz became a leader in the nutrition and wellness revolution. He created major company production bases in Spain, Portugal and New Zealand and penetrated such challenging markets as South Africa, Russia, the Czech Republic, Hungary, South Korea, China, India, Egypt, Botswana and Zimbabwe.

William R. Johnson took the helm as President in 1996, CEO in 1998 and Chairman in 2000. He continues Heinz`s international growth strategy by acquiring new companies in the Netherlands, Indonesia, the Philippines, Singapore and Costa Rica. He launched growth and reorganization plans to focus on core categories of ketchup, condiments and sauces; frozen meals/snacks; tuna and seafood; quick-serve meals/soups; pet products and infant feeding/nutritional.

H. J. Heinz Company today is an enterprise involving more than 45,800 people in over 200 major locations worldwide, with leading brands on six continents. Heinz brand names — such as Ore-Ida, Smart Ones, Bagel Bites, Wattie`s, San Marco, 9-Lives, Kibbles `n Bits, Pounce, Farley`s, Plasmon, Bio Dieterba, StarKist, John West, Petit Navire, Greenseas, Classico, Wyler`s, UFC, Orlando, ABC, Honig, Hak, DeRuijter, Olivine and Pudliski — appear on more than 5,700 different products here and abroad. Heinz also uses the famous names Weight Watchers, Boston Market and Linda McCartney under license.

And the major thrust of Heinz today? Today`s Chairman of Heinz agrees with the first: "I am convinced that quality is the way forward for Heinz," Mr. Johnson tells investors. "It will enhance our performance, expand our margins, improve our customer service, and provide Heinz employees with a more satisfying workplace environment."

Or, as Henry John Heinz liked to put it: "To do a common thing uncommonly well brings success."

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Milestones

1869
Henry J. Heinz and L. Clarence Noble launch Heinz & Noble, thus laying the groundwork for today`s global company. The first product is Henry`s mother`s "pure and superior" grated horseradish, bottled in clear glass to show its purity.

1876
Ketchup is added to the company`s condiment line, which also includes celery sauce, pickled cucumbers, sauerkraut and vinegar.


1893
Heinz introduces the pickle pin at the Chicago World`s Fair, known as The Columbian Exposition. It becomes one of the most popular promotional pieces in the history of American business.


1896
Henry Heinz turns more than 60 products into "57 Varieties." The magic number becomes world-renowned and now is virtually synonymous with the H.J. Heinz Company.

1931
Howard Heinz, Henry`s son, fights the Great Depression by adding two new lines: ready-to-serve `quality` soups and baby foods. They become top sellers.

1946
H.J. "Jack" Heinz II, grandson of the Founder, takes the company public, and launches post-war operations in Holland, Venezuela, Japan and Italy.


1963
Heinz acquires StarKist and "Charlie the Tuna" becomes a national media star.

1965
Heinz acquires Ore-Ida and transforms a regional business into the leading retail frozen potato brand in the U.S.

1966
R. Burt Gookin, architect of the modern Heinz, is the first non-Heinz family member named CEO.

1978
Heinz acquires Weight Watchers International, now the largest weight-loss program in the U.S.

1979
Anthony J.F. "Tony" O`Reilly, 43, is named CEO. He ushers in an era of global growth, expanding into Africa, China, Eastern Europe and the Pacific Rim.

1987
Chairman Henry J. Heinz II, in the 56th year of service to Heinz, dies at the age of 78. O`Reilly is the first non-Heinz family member named Chairman, President and CEO.

1998
William R. Johnson, 49, is named President and CEO. He is the sixth Chief Executive Officer in the history of Heinz.

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The Dish on Tunafish
This just in! The tuna you`ve loved for years has just gotten better! New and improved Premium Solid White Albacore Tuna is our best tasting, best quality ever. So white, so meaty, you`ll agree it`s the filet mignon of tuna.



There`s nothing fishy about the success of StarKist Foods, Inc. From Charlie the Tuna ads in 1969, to pioneering "dolphin-safe" tuna in 1990, Heinz is now the world`s leading tuna processor.

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Pet Projects



If you can`t count on your dog or cat for unconditional love and affection, what can you count on? You can count on us to infuse our pet food products with the same quality, purity and nutrition found in all of Heinz`s "human food" products.

Since 1954, Heinz Pet Products has offered nutritional and well-balanced pet food that pet owners have been eager to serve their pets. Today, Heinz Pet Products is the second-largest producer of pet food in the United States, offering the most balanced family of products of any American pet food company. Heinz Pet Foods is committed to keeping pets healthy and eating well and building a trust-filled relationship with pet owners.



IVD LifeStages diets are a veterinary exclusive line of wellness diets for dogs and cats in all stages of life. Ask your veterinarian about finding a unique formula recommendation for your pet



Kibbles `n Bits has a delicious blend of crunchy kibbles and meaty, chewy bits in every bowl. With five varieties, there`s something for every dog`s tastes.



There`s a very good reason why this canned doggie delicacy is a beloved part of the $10 billion U.S. pet food industry. A favorite among American dogs, Skippy will never land you in the doghouse with your precious pooch.

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At Heinz, we consider soy the "wonder bean" for all its wonderful, health-enhancing properties. It`s delicious, versatile and contains fiber, protein, vitamins and minerals. That`s why we`re proud to introduce Great Awakenings Soymilk.

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Pasta & Sauce



When you`re in the mood to mangia, nothing is better than Rosetto Pasta.



Catelli has been producing some of the world`s finest pastas and sauces since Carlo Onorato Catelli left Vedano, Italy and established a plant in Canada in 1867. Today, the Italian tradition continues with a delicious line of pasta sauces, pizza sauces and dry pastas.

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Jack Daniel`s® Grilling Sauce is a line of premium grilling sauces, carefully blended for use as a marinade, basting sauce or dipping sauce. With three distinctive flavors to choose from — Original No. 7 Barbecue Recipe TM, Sizzling Smokehouse Blend TM and Tennessee Hickory Mesquite TM — and a variety of delicious grilling recipes to prepare for your friends and family, you`ll transform your backyard barbecue into a unique grilling



Leave it up to Heinz to bring the fresh, quality ingredients prepared with that homestyle touch out of Boston Market® and into the supermarket. Now, that same great taste you`ve come to know and love is available in a freezer section near you.

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Feeding the Baby
How`s this for Baby Talk! Heinz has been making baby food since 1930, and offers everything from specially prepared vegetables, fruits and meats for infants to "main meals" and desserts specially created for toddlers, and even a range of snack items for preschoolers.



With all-natural ingredients, no preservatives, artificial flavors or colors, and 120 wonderfully delicious varieties, Nature`s Goodness is taking purity to a whole new level.



Parents everywhere trust Heinz. That`s why in Italy, the Plasmon Environmental Oasis program is the hallmark of purity and safety

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If it isn’t Heinz, it isn’t ketchup. For traditionalists all over the world, Heinz Ketchup is a familiar and favorite addition to their favorite foods. Heinz has added another variety to its condiment family—Heinz Hot Ketchup, featuring the fiery zing of Tabasco® Sauce.

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Heinz has a variety of delicious specialty sauces to take your meals to the next level of flavor. These include Worcestershire Sauce, Chili Sauce, Seafood Cocktail Sauce, Horseradish Sauce and Tartar Sauce. No matter what you`re serving, Heinz has a distinctive sauce that will make your meal a specialty.

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One of the original Heinz products, vinegar continues to be a cooking staple and a simple way to enhance the flavor of your favorite foods. From Apple Cider to Garlic Wine to Tarragon, Heinz vinegar makes a good dish taste great.

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Looking for a quick way to add great flavor to your favorite meals? Heinz Gravy is the answer! Just heat it in the microwave or stovetop and serve.
And here’s an extra benefit that may surprise you. Delicious Heinz Gravy is low in fat. Most have only one gram of fat (or less) per serving!
Heinz Gravy is available in a variety of flavors to perfectly complement any food, including chicken, pork, beef, potatoes, rice or even pasta.

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Planning a quick, delicious meal? College Inn can help! A staple in kitchen cupboards since 1923, the College Inn line of broths is the perfect partner to add great taste to any meal.
Few ingredients are as versatile as College Inn Broth. It adds full-bodied flavor to many of your favorite recipes. College Inn broths can help you cut the fat and save time while adding great flavor to your meals.
College Inn Broth is interchangeable in recipes that call for bouillon. Also, our low-sodium broths can be substituted for regular broths in any recipe.

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Heinz 57 Sauce gives you zesty flavor to make your good meals even better! That`s because its unique combination of ingredients enhances your foods by bringing out their flavors.
Grill it, pour it, dip it, 57 it! Use your imagination and taste the zesty difference 57 makes

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Try StarKist Tuna in the New Flavor Fresh Pouch™!
It’s the new wave in tuna that makes eating tuna easier and more enjoyable than ever!
For over 80 years people have trusted StarKist and Charlie the Tuna, because only the best-tasting tuna gets to be StarKist. Now StarKist brings you the biggest news in tuna since…well tuna! StarKist Tuna in the new Flavor Fresh Pouch™ makes enjoying tuna easier and fresher-tasting than ever!

You may never use the can again!

No Draining!
Easy tear-open top!
Vacuum-sealed to capture the freshest flavor yet!
Less water than canned tuna, so the great taste stays in the tuna, not down the drain!
StarKist Tuna in the Flavor Fresh Pouch™ is available in three great varieties:

Chunk Light in Water
Chunk Light in Sunflower Oil
Albacore in Water

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Have more fun at mealtime with Heinz EZ Squirt Ketchup.
For the first time, you have a ketchup you can call your own. Heinz EZ Squirt has a new nozzle that provides better control and a super-thin stream of ketchup. And Heinz EZ Squirt comes in cool Blastin` Green, so you can get really creative! Now you can top your burger with a racecar or finish off your fries with a flower.

Keep a lookout for the bright new bottle that features fun curves that are custom-designed for easier squeezing. And remind Mom to pick up a bottle next time she goes to the supermarket.

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Heinz Ketchup Gets Funky With New Purple EZ Squirt



PITTSBURGH--(BUSINESS WIRE)--July 31, 2001--Purple reigns. Purple reigns. Heinz Ketchup announced today that Heinz EZ Squirt Funky Purple(R) will join Heinz EZ Squirt Tomato Red and Blastin` Green in its growing complement of colored condiments. Consumers will start seeing the color purple on grocers` shelves in early September.
"The tremendous success of Heinz EZ Squirt Blastin` Green showed us that kids love decorating their food with colors that are bright, wild, even a little ... funky," said Casey Keller, Managing Director for Ketchup, Condiments and Sauces at Heinz North America. "Literally thousands of people called, wrote or e-mailed us demanding a new Heinz EZ Squirt color, and the vast majority of kids asked for purple."
The Heinz EZ Squirt color team turned to the experts for help -- kids. After all, children are the No. 1 consumers of ketchup, devouring more than half of all ketchup in the United States -- roughly 5 billion ounces annually. Kids and the Heinz EZ Squirt color team developed new prototypes that would give kids a bold new color they can use to personalize everything from hot dogs and french fries to macaroni and cheese.
"Boys and girls alike love the cool purple color," said Brian Hansberry, Vice President of Marketing for Ketchup, Condiments and Sauces at Heinz North America. "Just look at kids` entertainment, and you`ll find everything from purple computers to Harry Potter purple lightning bolts. Purple is a bold, fun color that brings a hint of mystery and magic to kids` condiment creations."

Funky Purple Makes Meals More Fun

"Purple is one of the hottest colors for kids right now. In an era when kids can`t get enough monsters and wizards, the bold, powerful color purple has reached new heights of popularity. It`s consistently a kid favorite," said Jay de Sibour, President of the Color Marketing Group, a not-for-profit international association of 1,700 color designers involved in the use of colors as they apply to marketing of goods and services. "Purple is a color with attitude that appeals to kids of all ages and is equally liked by both boys and girls."
Kids like psychedelic purple flowers on hamburger buns and purple racing stripes on hot dogs. The curvy soft plastic of the Heinz EZ Squirt bottle is designed for smaller hands and the typical, two-fisted grip favored by kids. The nozzle is notably narrow to create a thin stream, enabling young condiment artists to use more precision when decorating their dinners. Moms and dads are sure to like the added Vitamin C that Heinz EZ Squirt Funky Purple offers.
Nearly a year ago, Heinz EZ Squirt Blastin` Green captured the imagination of consumers -- kids and grownups alike. More than 10 million bottles were sold in the first seven months, with Heinz factories working 24 hours a day, seven days a week to keep up with demand. Desperate consumers eager to get their hands on Heinz EZ Squirt Blastin` Green tried everything from impersonating Heinz executives` relatives to bidding for bottles posted on eBay. The product launch made headlines around the world, even though its distribution is only now expanding outside the U.S.
Kids can learn more about the new Funky Purple EZ Squirt product by logging onto www.heinz.com.

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A New Flavor of Football — Heinz Field



Are you hungry for football? Heinz Field is the new name of the 65,000-seat home of the Pittsburgh Steelers and University of Pittsburgh Panthers. No other National Football League stadium bears the name of a global food company.

"This is a touchdown for Heinz. It gives us an exclusive marketing platform to promote the Heinz name and Heinz products to millions of football fans, families and consumers in North America and around the world," stated William R. Johnson, Heinz chairman, president and CEO. NFL football attracts more than 110 million television viewers every weekend in North America, the largest television audience in professional sports.

Heinz is investing an average of $2.85 million a year for 20 years for the naming rights; stadium signage; and a variety of marketing, advertising and merchandising opportunities. This cost-effective investment will promote Heinz brands at a minimal cost of 3/10 of 1 percent of the company`s annual marketing budget.

The new logo for Heinz Field incorporates the trademark Heinz keystone and may be customized for either the Pittsburgh Steelers or the University of Pittsburgh Panthers

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Delimex Adds Mexican Flavor

Heinz Frozen Food Company has acquired Delimex, a leading producer of Mexican foods, with annual sales topping US$150 million. Delimex makes taquitos, tightly rolled fried corn or flour tortillas with fillings such as beef, chicken or cheese. It also makes quesadillas, tamales and rice bowls

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Classico®, the number-one name in premium pasta sauces in the US, was acquired by Heinz from Borden Foods Corporation. Under the transaction, other popular brands were added, including: Aunt Millie`s® pasta sauces, Mrs. Grass® Recipe soup and Wyler`s® bouillons and soups. Heinz also added Catelli®, Gattuso® (under license) and Bravo® pasta sauce brands, which are all Canadian favorites.

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Heinz Forms Strategic Alliance with Kagome of Japan

Heinz and Kagome Company Limited of Japan signed agreements for a strategic alliance whose goal is to enable Heinz and Kagome, the leader in ketchup and vegetable juices in Japan, to explore ways to align their global operations and product portfolios to accelerate sales growth and reduce operating costs.

Noted Heinz Chairman, President and CEO William R. Johnson: "The Heinz/Kagome strategic alliance combines the management expertise and capability of two of the best food companies in the world. Japan represents the second-largest food market in the world and Kagome is the number-one brand in Japan. We see this alliance as another example of Heinz`s increased focus on growth in Asia and an opportunity to explore possible growth initiatives with Kagome in other world markets

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For the H.J. Heinz Company, growth is driven by ideas. Leveraging its leading brands around the world, Heinz uses creative new products, packaging and advertising to excite consumers and address their changing needs. This year`s annual report celebrates recent Heinz marketing breakthroughs in the form of eight attributes that distinguish great Heinz ideas and help them add flavor to the daily celebrations of life.

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William R. Johnson, Chairman, President and Chief Executive Officer, with chefs from the Heinz Kitchens.

HOW DID HEINZ PERFORM IN FISCAL 2001? Fiscal 2001 was a year of contrasts, with great progress in many areas and disappointment in some others. Importantly, we introduced a number of successful marketing initiatives and new products while simultaneously improving gross margins.

Through combined organic growth and acquisitions, we achieved notable sales gains in our core Ketchup, Condiments and Sauces (+4%), Frozen (+25.6%) and Foodservice (+9.4%) business segments. U.S. ketchup performance was particularly pleasing as we broke numerous records, with the highest one-year market share (51.2%) and the greatest one-year share point gain (3.6 points) ever. Ketchup also crossed the "magic 57" threshold in dollar share, reaching 57.4%.

Additionally, we transformed our key categories with breakthrough innovations, such as Heinz EZ Squirt kids` condiment, StarKist pouch tuna, Boston Market gravy, Hot Bites frozen snacks, Jack Daniel`s and Mr. Yoshida`s sauces, microwaveable Soup to Go in Australia/New Zealand, and unique pet snacks, such as Nawsomes, Pounce Purr-fections and Meaty Bone Savory Bites.

At the same time, there were frustrations. The distractions of restructuring temporarily weakened our performance in Australia/New Zealand, while trade destocking and a late response to the organic trend slowed our European infant feeding business. We are refocusing these businesses and aggressively addressing their issues. We also contended with raw tuna prices that reached record lows in Fiscal 2001--a situation that has begun to abate. Like all multinational companies, we have been significantly adversely affected by the strength of the U.S. dollar, whose increase in value in Fiscal 2001 reduced our sales by $402 million. Over the last four years, currency has reduced Heinz sales by approximately $1.1 billion and operating income by approximately $195 million. And like other consumer packaged goods companies, we remain in a challenging retail environment, with strong resistance to pricing amidst steeply rising energy and materials costs. We anticipate a continuation of these factors in Fiscal 2002, particularly in the first half.

WHAT KIND OF GROWTH AND PERFORMANCE CAN WE EXPECT IN FISCAL 2002 AND BEYOND? Heinz will focus on achieving profitable top-line growth. Our "food solutions" strategy aligns us with key consumer trends, and we have terrific new products in the pipeline. We will also renew our focus on reducing costs while building a world-class supply chain and superior customer service.

We plan to expand our EZ Squirt concept in North America and around the world and have just launched a new color--Funky Purple--to spark new excitement among young consumers. We also expect to leverage our pending acquisition of Classico pasta sauces, the number-one premium brand in the U.S.

Our meal and snacks solutions focus has generated terrific growth, especially in frozen, where Smart Ones entrées and Bagel Bites snacks have grown at double-digit rates, and the Boston Market range of meals and gravies achieved over $130 million in retail sales in its first year, making it our most successful new product launch ever.

HOW WILL HEINZ MAINTAIN A STRONG BOTTOM LINE AS IT INVESTS IN MARKETING? We must maintain a proper balance between delivering short-term results and investing in long-term opportunities--both integral to creating value. At the same time, we must apply innovation to cost reduction, people development and customer service. This will differentiate us over the long term.

We expect significant savings from the streamlining of our North American (particularly tuna) and European businesses, and we also anticipate substantial progress in procurement costs through e-sourcing. We are targeting $25 million in Fiscal 2002 savings in materials and services through Internet reverse auctions. Heinz is a true innovator and leader in Internet-based e-sourcing. Another priority is improving our balance sheet. We have given our managers strong incentives to reduce working capital and improve inventory turns. Key to this is supply chain innovation and more effective asset management--particularly leveraging non-company assets. We expect capital spending to be reduced substantially.

WHAT IS THE MOST NOTABLE TREND IN HEINZ`S MARKETING STRATEGY? I would point to sports marketing. Heinz Frozen Food is engaging renowned athletes to attract media attention and consumer interest, including Tony Hawk for Bagel Bites, Larry Bird for Boston Market, and Kristi Yamaguchi for Smart Ones.

Additionally, we now have a major opportunity in the naming rights for Heinz Field, the home of the Pittsburgh Steelers, a premier National Football League team. NFL football is the most popular sport in the U.S., attracting 110 million TV viewers each week during the season, plus enormous radio and print coverage. Heinz Field will generate millions of media impressions for the Heinz brand, at a cost of only $2.85 million per year--roughly the price of a single Super Bowl TV spot.

WILL ACQUISITIONS REMAIN IMPORTANT TO HEINZ`S GAME PLAN? Absolutely. We see significant potential in "bolt-on" acquisitions that offer immediate synergies while accelerating growth in our core businesses. We are very excited about the recent additions of foodservice leaders such as International DiverseFoods, Todds and Alden Merrell frozen desserts. Overseas, we have expanded our powerful Asian sauces business with the purchase of Singapore-based Sinsin, an excellent complement to our fast-growing ABC brand in Indonesia, and added a premium foodservice sauce maker, Comexo in France. We are particularly enthusiastic about our newly acquired Hak, Honig, De Ruijter and KDR brands in the Netherlands, which give us a new lineup of leading brands in Northern Europe.

ANY FINAL THOUGHTS FOR SHAREHOLDERS? Heinz remains a fundamentally sound business with great brands, strong cash flow, good dividend yield and extensive global reach. People will always have to eat, and our premium brands, innovative marketing and aggressive strategies for profitable growth should position us well over the next three to five years. The tech-stock fervor and mega-merger mania have cooled, leaving a stock market hungry for value, which we are committed to delivering to our loyal shareholders. In closing, I would like to acknowledge the contributions of retiring Board member Don Keough, a true shareholder champion and an architect of growth at Coca-Cola. Don`s wisdom, counsel and support have been invaluable to Heinz. We extend to him our best wishes and most grateful thanks.

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BRAND POWER

Ketchup, Condiments and Sauces Heinz ketchup poured it on in a record-breaking year to strengthen its position as the world`s most popular ketchup brand. In the U.S., Heinz achieved a 52-week volume share of 51.2%, the highest share in its 125-year history.

The introduction of the colorful EZ Squirt Blastin` Green kids` condiment was a tremendous success, as consumers couldn`t get enough of it. EZ Squirt Blastin` Green captured the world`s imagination and energized sales growth in the category. EZ Squirt, available in traditional tomato red as well, delivers inventive packaging, with an easy-grip squeezable bottle designed for smaller hands and a thin nozzle that enables children to draw and write on their foods. Heinz went Hollywood as our EZ Squirt brand was touted in creative promotional tie-ins with the blockbuster movie "Shrek." The hero of the animated fantasy, Shrek, appeared on limited-edition bottles of EZ Squirt Blastin` Green, while his fairy-tale heroine, Princess Fiona, appeared on the red bottles. Canada caught the ketchup frenzy as well, introducing E-Zee Squirt in both green and traditional red.

Heinz ketchup`s market share (in dollars) rose above 57% in the U.S. for the first time. Overall, sales in ketchup, condiments and sauces grew 4% to $2.54 billion.

Foodservice sales of bottled Heinz ketchup grew 7% from the previous year, propelled by the launch of red plastic Forever Full ketchup bottles that eliminate the half-empty look. Single-serve condiment volume grew more than 5%. Heinz Foodservice continued the Blastin` Green sensation with a special "Shrek" promotion at Burger King restaurants, which offered single-serve packets of the popular condiment. Heinz also entered a licensing agreement to package single-serve portions of Jif Creamy Sensations® chocolate and berry spreads. Heinz now offers organic tomato products to restaurants under its Christina`s label.

Heinz North America poured on the innovation in other sauces, introducing Jack Daniel`s Grilling Sauces, which offer robust flavor in a premium brand, and Mr. Yoshida`s Fine Sauces, a versatile Asian-inspired line. Boston Market HomeStyle Gravy tantalized taste buds, driving up sales in the category by more than 6%.

In the U.K., Heinz Salad Cream continued its resurgence with a creative advertising campaign aimed at introducing younger consumers to the product`s versatility and great taste. In Indonesia, ABC soy sauce, the world`s second-largest-selling soy brand, gained additional momentum with new packaging and a 16% increase in sales volume.

In Europe, Heinz ketchup captured a 25% dollar share of the European foodservice market. In Australia, Heinz Wattie`s foodservice supplied condiments, sauces and frozen vegetables to the Summer Olympic Games in Sydney, much to the delight of more than 35,000 athletes and 4 million spectators. Heinz sales in China climbed 35% as the company`s newest factory began producing Heinz ketchup for a leading international chain of quick-serve restaurants.

Frozen Meals/Snacks Sales in this rapidly growing category increased 26% to $1.96 billion. Boston Market HomeStyle Meals became the company`s most successful new launch ever, as retail sales of the premium frozen meals and side dishes (plus Boston Market HomeStyle Gravy) reached $130 million in the first full year of national distribution. Heinz Frozen Food scored a marketing slam-dunk by signing NBA and Boston Celtics great Larry Bird to star in new television commercials promoting Boston Market HomeStyle Meals with an invitation to "Eat Like A Bird."

Bagel Bites frozen pizza snacks excelled with a 21% increase in sales for the year. The brand tantalized "tweens"--consumers between the ages of 9 to 14--by leveraging the popularity of brand spokesman and skateboard legend Tony Hawk and Heinz`s sponsorship of the nationally televised ESPN X Games.

Building on the brand identity and strength of Bagel Bites, Heinz also introduced Hot Bites, a new line of portable snacks in tempting pizza and potato varieties.

Sales of Smart Ones entrées and desserts climbed 17% as the brand rolled out enticing new varieties, including Smart Ones Main Street Bistro Bowls. Smart Ones achieved a 10.7% volume share to capture second place in the dynamic nutritional frozen entrée segment.

Tuna and Seafood Global tuna and seafood sales were $1.04 billion. Leading a wave of innovation was StarKist Tuna in a Pouch, which made a big splash with consumers. The "uncanny" product delivers firmer, fresher tasting tuna in a vacuum-sealed foil pouch with no draining. StarKist Tuna in a Pouch gained a 4% volume share after the 7-ounce package was introduced last fall. StarKist also rolled out a new 3-ounce, single-serve pouch in Spring 2001 and supported that product launch with new television commercials featuring brand icon Charlie the Tuna and San Francisco fishermen sampling the pouch tuna. Market leader StarKist canned tuna was the category front-runner again with a U.S. market share of 42%. Six Asian varieties of StarKist seafood were introduced in Singapore.

In the U.K., Heinz introduced the John West Tuna Pouch in five varieties. Our John West brand remained the U.K. market leader in canned tuna. Its "Bear" TV commercial won a U.K. Grand Prix award as best of the year. Sales of the Petit Navire brand grew to net an impressive 19% market share in France.

Quick-Serve Meals/Soups Quick-serve meals, including soup, beans and pasta, reached $1.22 billion in sales in Fiscal 2001. In the U.K., Heinz is the number-one soup brand, with a 55% volume share. Heinz U.K. launched Fridge Door Soup, flavorful varieties packaged in convenient one-liter plastic bottles that fit snugly in refrigerator door compartments. In Europe, Heinz introduced fast and convenient microwaveable soup and baked beans to drive sales in those categories. Sales of ready-to-serve soup surged 32% in the Australian market.

Pet Products Pet products achieved $1.15 billion in sales, as Heinz unleashed new products aimed at satisfying the market for pet snacks and enticing varieties of pet food. For dogs, Heinz introduced Pup-Peroni Nawsomes unique soft and chewy twists packed in tennis ball containers, and Meaty Bone Savory Bites crunchy treats with soft centers flavored with beef, chicken or peanut butter. These two new products may prove to be the best new pet snack introductions in years.

Infant Feeding/Nutritional Infant feeding/nutritional sales reached $973 million in Fiscal 2001. Sales of Heinz baby food in China achieved strong growth. Heinz Canada launched Heinz Baby Basics Feeding Bottles, whose unique design promotes easier digestion. In Italy, Heinz launched BioDieterba, a full line of organic baby food, and a snack-size version of brand icon Plasmon Biscotti, the popular biscuit.

Worldwide, Heinz unveiled a consumer-friendly upgrade of its Web site--Heinz.com--that provides vital information on the company`s outstanding brands, as well as recipes, promotions, investor Webcasts, news, stock trading data, and other information at the click of a mouse.

PRODUCTION AND PROCUREMENT In the final year of Operation Excel, the company`s three-year restructuring and growth initiative, Heinz continued to take action to enhance the efficiency and operating strength of its worldwide manufacturing operations.

Heinz closed its tuna operations in Mayaguez, Puerto Rico and divested a fleet of fishing boats. The company ceased pet food canning operations at its facility in Terminal Island, California and consolidated production to its pet food Manufacturing Center of Excellence in Bloomsburg, Pennsylvania.

Heinz closed its factories in Dandenong, Australia and Wanganui, New Zealand, shifting production to other facilities in the region.

Heinz also strengthened its manufacturing capabilities with new facilities around the world. In Spain, Heinz Iberica`s new factory in La Llanada began producing Orlando products, including tomate frito, a popular cooking sauce. Heinz UFC Philippines built a new factory in Manila to expand its manufacturing capacity by 40%. Heinz Wattie`s opened its new infant feeding Manufacturing Center of Excellence in Echuca, Australia.

ACQUISITIONS Heinz accelerated its growth in Northern Europe by acquiring the CSM Food Division of CSM Nederland NV for approximately $391 million. CSM Food Division has annual sales of approximately $320 million as a leading food company in the Netherlands, Belgium and Luxembourg region. The acquisition was the second-largest ever for Heinz outside the U.S.

In Poland, Heinz acquired several popular Polish ready-meal brands. In France, Heinz acquired Comexo, a leading maker of very high-quality sauces sold to French restaurants and caterers.

In the U.S., Heinz Foodservice announced a flurry of acquisitions to accelerate its growth and expand its product line. The company acquired the Alden Merrell business, a manufacturer of high-quality, premium-priced frozen desserts, such as pies, layer cakes and cheesecakes, for casual dining restaurants and foodservice distributors. Alden Merrell, based in Newburyport, Massachusetts, had annual sales of approximately $30 million before joining Heinz.

Heinz Foodservice also acquired the Todds lines of refrigerated and frozen dressings, sauces and soups; and IDF Holdings, Inc., a leading manufacturer of customized dressings and sauces.

In early Fiscal 2002, Heinz agreed to acquire Borden Food Corporation`s pasta sauces and dry bouillon and soup businesses, which include popular U.S. and Canadian brands, such as Classico and Wyler`s.

Heinz expanded in Central America with the acquisition of two leading food companies based in San José, Costa Rica: Productos Columbia, S.A. and Distribuidora Banquete, S.A. The companies make and market the leading brand, which holds a 62% share of the Costa Rican ketchup market.

The company formed Heinz UFC Philippines, a joint venture that gives Heinz the leading banana ketchup brands in the Philippines and a strong platform for the launch of Heinz tomato ketchup and other Heinz products. In Singapore, Heinz acquired Sinsin Food Industries Pte, Ltd., a leading marketer of chili sauces, soy sauce and other Asian condiments.

Heinz Venezuela`s pet food business formed a joint venture with Empresas Polar, the nation`s largest food and beverage manufacturer and distributor.

In South Africa, Heinz acquired John West Foods South Africa, a maker of branded seafood and canned and bottled spices and fruit.

Heinz Frozen Food Company sold the All American Gourmet business and its Budget Gourmet brands in February 2001 to focus on its faster-growing frozen entrée brands.

[Ketchupexperte]

Der Erfinder des Kult-Ketchups Henry John Heinz.

[Ketchupexperte]

Das Heinz-Firmengelände in Pittsburgh am Ende des 19. Jahrhunderts.

[Ketchupexperte]

Produktverpackung um 1900: Die gefüllten Dosen
werden von Hand etikettiert, nochmals verpackt
und anschließend in Holzkisten gestapelt

[Ketchupexperte]

So sahen sie aus: Ketchup-"Pullen" um die Jahrhundertwende.

[Ketchupexperte]

Ab den 20er Jahren nähert sich die Form der heutigen stark an.

[Ketchupexperte]

Pionier in Sachen Werbung: Heinz warb schon
um 1900 mit riesigen Plakatwänden.

[Ketchupexperte]

Die Zukunft, zumindest ihr grüner Teil:
Heinz Green gibt es auch bald in Deutschland.

[Budworld]

Vielen Dank Ketchupexperte, jetzt weiß ich wirklich Alles über diese Firma , was man darüber wissen kann.
Vielleicht kaufe ich wirklich mal ein paar, 4 % Dividende ist ja nicht schlecht, aber ein Renner wird Heinz wohl nicht werden.