Heinz upping investment in T.G.I. Friday's line
March 7, 2012
PITTSBURGH — The H.J. Heinz Co. is increasing investment in marketing and product development for its T.G.I. Friday’s line of frozen snacks and appetizers in fiscal year 2013.
“The T.G.I. Friday’s brand is an important growth driver for our North American business,” said Scott O’Hara, president and chief executive officer of Heinz North America. “The frozen snacks and appetizer line is the segment of the T.G.I. Friday’s business with the highest growth and profit potential and most favorable consumer dynamics, which is why we have chosen to focus our efforts in this category.”
The T.G.I. Friday’s line is a $250 million business for Heinz and the fourth largest brand in the Heinz U.S. Consumer Products portfolio. Heinz and T.G.I. Friday’s have had a licensing agreement for 11 years. The latest product introduction in this line is the T.G.I. Friday’s Mac & Cheese Wedges, which are available this month at major retailers in a 15.5-oz box for a suggested retail price of $5.99.
“The ability to leverage such a well-known and loved restaurant brand in retail has added tremendous value to our frozen portfolio of products,” said David Ciesinski, group vice-president and chief marketing officer for Heinz U.S. consumer products. “The T.G.I. Friday’s frozen snacks and appetizers product line continues to be a robust and growing business for Heinz and remains a cornerstone of our frozen portfolio.”