H.J. Heinz Co (HNZ.N) is in advanced stages of talks for an acquisition or merger in Brazil that could be worth up to 1 billion reais ($600 million), a Brazilian newspaper reported on Friday. Citing an unnamed executive with knowledge of the talks, financial daily Valor Economico said Heinz planned to acquire or partner with unlisted Brazilian food company Quero Alimentos, which has annual sales of about 600 million reais. Heinz currently has no direct operations in Brazil, one of the world's fastest-growing emerging economies, and sells products such as its trademark ketchup through import distributors, Valor said.
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