Heinz Retreats In British Bean War
H.J. Heinz Co. has been baking beans here for so long that most consumers think the famous American brand name is British.
The slogan “Beanz Meanz Heinz” helped make the name Heinz synonymous with baked beans in Britain for decades, but soon many of the beans coming from Heinz factories will be labeled with the names of big supermarket chains.
Heinz said Wednesday it’s going to start making the “own-label” baked beans - which Heinz insists will be of lesser quality.
Analysts say Heinz is acknowledging defeat after a painful price war in the British baked beans market that encouraged millions of Britons to try a cheaper brand of bean.
Heinz was tight-lipped about its new strategy, but issued a terse statement saying, “These lines offer consumers a cheaper product albeit at a lower quality.”