McQueen advised Associated British Foods plc on its acquisition of the HP Foods Ethnic Business from HJ Heinz Company. A summary of the press release is set out below.

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January 17, 2006 11:00 AM US Eastern Timezone

Heinz Signs Agreement to Sell Ethnic Business to ABF LONDON--(BUSINESS WIRE)--Jan. 17, 2006--H.J. Heinz Company (NYSE:HNZ) announced today that its HP Foods business has signed a definitive agreement with Associated British Foods plc group for the sale of HP Foods’ Ethnic Foods business, comprising a small part of the HP business acquired in August by Heinz. Terms of the agreement were not disclosed.

"Selling the HP Ethnic Foods business, which is sold primarily through the ethnic distribution channel, is in line with our strategy of focusing on three core categories where Heinz is a sector leader: ketchup, condiments & sauces; meals & snacks; and infant nutrition," said Joe Jimenez, President and CEO, Heinz Europe. Heinz acquired HP Foods to focus on three sauce brands: Lea & Perrins(R), HP(R) sauces and a perpetual licence to market the rapidly growing Amoy(R) Asian sauces brands in Europe.

The HP Foods Ethnic Food business supplies a wide range of owned and agency brands to the Chinese, Indian and Thai restaurant sector, as well as specialist retailers. These include Rajah, Green Dragon, Lotus, Maharajah, Cathay and Dynasty.

The proposed sale to ABF will include the transfer of 30 employees based in Europe including the UK. The UK Competition Commission, currently investigating Heinz’s acquisition of HP, has approved the proposed sale. The sale should be completed in the next two months.

Source:  HJ Heinz Company