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

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” promotional activity ...