The offer has been endorsed by Golden Circle's 35 per cent owner, Anchorage Capital, which injected $30 million into the Brisbane-based company late in 2007 and stands to more than double its money if the $1.65-a-share cash bid is accepted by grower shareholders.

Heinz Australia managing director Peter Widdows said his company would conduct an extensive review of the Golden Circle operations if it gained control.

Mr Widdows said Heinz did not have a presence in the juice market in Australia and the offer was part of a push to expand into healthy products.

But the 800 grower shareholders, who hold a combined 60pc of Golden Circle, will need to ratify the bid, being made under a scheme of arrangement, at a meeting planned for late December.

The offer, which represents a 300pc premium on the current trading price, has been unanimously supported by the Golden Circle board.