Saturday 29 April 2017

Heinz writes off €19m on Dundalk factory sale

Heinz ketchupHeinz signed a three-year deal with TAFC to continue production of Heinz products at the Dundalk facility.
Heinz ketchupHeinz signed a three-year deal with TAFC to continue production of Heinz products at the Dundalk facility.
John Mulligan

John Mulligan

Heinz wrote off £13.8m (€18.6m) on the sale of its manufacturing plant in Dundalk, Co Louth, this year to the Manchester-based Authentic Food Company, newly-filed accounts for the Heinz operation in Ireland show.

While details of the price The Authentic Food Company (TAFC) paid for the factory aren't disclosed in the latest set of accounts, they confirm that Heinz shouldered significant impairment losses associated with the sale.

Heinz signed a three-year deal with TAFC to continue production of Heinz products at the Dundalk facility.

The plant makes products including Weight Watcher meals, its Ross line, and other frozen ready meals.

The accounts also show that HJ Heinz Manufacturing Ireland made an £11.6m (€15.7m) loss last year once the impairment charge was included in the figures.

About 160 people were employed at the Dundalk factory when the sale was finalised last February.

Irish Independent

Promoted articles

Also in Business