H.J. Heinz Co., Pittsburgh, announced a major restructuring, as expected, at the Consumers Analyst Group of New York meeting today. Heinz said the restructuring, called Project Excel, will raise $100 million in the coming year "to support marketing and pricing initiatives against key brands." The restructuring includes a planned sale of its Weight Watchers classroom programs. Under the plan, Heinz is reconfiguring its focus on six core categories--frozen foods, infant foods, ketchup, pet products, soup and tuna--and six markets--Australia, Canada, Italy, New Zealand, the U.K. and U.S.
Copyright February 1999, Crain Communications Inc.