Kraft Heinz completes acquisition of majority stake in Just Spices

The deal accelerates Kraft Heinz's international growth strategy with a focus on flavor expansion

21-Jan-2022 - USA

Kraft Heinz announced today that it has completed the acquisition of an 85% stake in Germany-based Just Spices GmbH. The remaining 15% stake will remain with Just Spices' three founders, who will continue to manage the company and focus on further developing the business and growing it internationally. The planned acquisition was first announced on December 10, 2021.

Founded in 2014, Just Spices is an innovative start-up pioneering in the high-growth category of flavor enhancement, with annual sales of approximately €60 million. Just Spices' portfolio of more than 170 products includes spice blends, salad dressings, easy-to-prepare "in-minute" mixes and organic products for a variety of eating occasions, from breakfast and light snacks to salads and baked goods, with a wide range of savory, sweet, classic and exotic flavors. Just Spices' growing business sells about 70% of its finished and single-step spice blends directly to consumers, with the remaining sales through major food retailers both in-store and online in Germany, Spain, Austria and Switzerland.

"In 2021, we have announced four acquisitions to further accelerate our growth agenda and achieve our goal of being the world's No. 1 flavor company," said Rafael Oliveira, EVP & President, International Markets at Kraft Heinz. "This includes the acquisition of a majority stake in Just Spices, our intention to acquire a majority stake in Brazilian food company Hemmer, our investment in BR Spices in Brazil and our acquisition of Assan Foods in Turkey. With Just Spices, we will leverage Kraft Heinz's scale and agility to accelerate the business in the fast-growing flavor enhancement market beyond the company's current German base and recent market entries in Spain, Austria and Switzerland. In addition, we see tremendous potential to further strengthen and expand Kraft Heinz's direct-to-consumer business."

"We are very excited about the expansion opportunities that come from combining Just Spices' innovation and brand strength with Kraft Heinz's team and its scale and knowledge of international markets," said Florian Falk, CEO of Just Spices and one of the company's three founders.

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

https://www.yumda.com/en/news/1174417/kraft-heinz-completes-acquisition-of-majority-stake-in-just-spices.html