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Business news
Heinz Buys Petrosoyuz?
01.21.2005 12:22

Heinz Buys Petrosoyuz? City food producer Petrosoyuz may be in line for a buy-out by American conglomerate Heinz, Kommersant reported Wednesday.

Petrosoyuz, one of Russia's largest manufacturer of butter and ketchup products, has been gradually reducing its amount of advertising since the summer of 2004.

Gallup AdFact showed that the manufacturer's Picador brand appeared on central television just 19 times since July 2004, compared to 1,500 appearances in 2003.The tendency has led experts to believe the owners of Petrosoyuz are readying for a sale.

"Not to advertise on the consumer market is like stopping giving flowers to your wife or caring for her, although still cohabiting," said Alexander Sokolo-verov, head of advertising agency Rollton, to Kommersant. "The owners have lost interest in their business."

Among possible contenders for Petrosoyuz Kommersant lists Heinz, which the Russian company does not deny having contact with, although "negotiations will not yield any results for a few months yet," said Dmitry Filatov, general director of Petrosoyuz. Heinz did comment.

Petrosoyuz has seven factories in Russia.

News source: http://www.sptimes.ru
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