Investcorp to invest in Heritage Foods.

Investcorp, a global manager of alternative investment products, agreed to invest in Heritage Foods, a platform of leading condiments and sauces brands. Financial terms were not disclosed. “We believe that the Asia food sector continues to offer attractive growth opportunities and we see that Heritage Foods is poised to achieve significant scale. The global sauces and condiments market size is estimated to be at $130bn and is growing at 5-6% CAGR, with Asian sauces accounting for over 50% of the global market. We see attractive macro trends in Asia’s rising middle class, high household consumption of sauces and rapid growth in casual dining, further driving market growth. We look forward to this partnership and supporting the Company in its global expansion plans and realising its full potential," Hazem Ben-Gacem, Investcorp Co-CEO.