TONY O'Reilly's dash from the annual Heinz analysts' briefing last Thursday straight to meet Mr Carlos Menem in Argentina was not in vain, the Margin is glad to report. The flight south caused O'Reilly to miss the big America Ireland Fund dinner being held that night.

However, this week came the news that Heinz is making its first investment in Argentina, buying a majority interest in a pet food company, which produces a range of dry dog and cat foods - which we trust did not feature on the menu when Dr O'Reilly and President Menem dined together to clear the way for the deal.