Heinz Ireland increases profits despite falling market share in baked beans

Accounts show Irish arm of US giant posted revenues of €42.13 million last year but firm warns of ‘highly competitive’ grocery market

23rd November, 2021
Heinz Ireland increases profits despite falling market share in baked beans
HJ Heinz Company Ireland said ‘aggressive’ promotional activity from competitors was a challenge to business. Picture: Getty

Revenue and profit at Heinz’s Irish arm increased during the year as consumer demand rose as a result of the pandemic.

Accounts filed by HJ Heinz Company Ireland, a subsidiary of the US-based Kraft Heinz business in the US, show its market share in baked beans and canned pasta declined last year due to an environmental initiative to limit plastic waste.

In a “highly competitive” grocery trade, directors at the firm said “aggressive”...

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