Heinz said it will increase its marketing budget by $51 million in the next six months in order to push for growth in slower markets. The comment, made during a company conference call with analysts, also hinted at new products in its pipeline and at the possibility of an acquisition.
In February 2007, Heinz also said it planned to increase its marketing budget, by $60 million, because of success in the US and Asia Pacific markets. Part of the reason why it is increasing its spend now has to do with taking back market share lost to retailers' lower-cost brand products.
