HEINZ TO ACQUIRE EARTH'S BEST

PITTSBURGH -- H.J. Heinz Co. here said earlier this month that it has signed a letter of intent to acquire Earth's Best, the Boulder, Colo.-based manufacturer of organic baby food.

h's Best products are sold in Canada, Australia and the Far East. About one-quarter of the company's sales are through natural food stores.

"Earth's Best will provide us with a full range of premium, organic baby foods to supplement the Heinz brand of infant cereals, juices and strained and junior foods," said Anthony J.F. O'Reilly, Heinz chairman, president and chief executive officer.

Heinz is one of the world's leading producers of baby foods. It has annual sales in the segment of approximately $1 billion, with about 88% coming from overseas.