Things just got a little spicier for The Kraft Heinz Company. Recently, the specialty behemoth announced it has completed its acquisition of an 85 percent stake in Germany-based Just Spices GmbH.
“In 2021, we announced four acquisitions to further accelerate our growth agenda and our ambition to be No. 1 in taste elevation around the world,” said Rafael Oliveira, Executive Vice President and President, International Markets at Kraft Heinz. “These include our acquisition of a majority stake in Just Spices, along with our intention to acquire a majority stake of the outstanding equity interests 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 taste elevation market beyond the company’s current German base and its recent market entries in Spain, Austria, and Switzerland. We also see tremendous potential to further strengthen and enhance Kraft Heinz’s own direct-to-consumer operations and go-to-market expansion.”
The proposed deal was first announced on December 10, 2021. With this completion, Just Spices’ three founders will retain the remaining 15 percent ownership stake and continue leading the company. According to the release, they will focus on driving the business and its international growth.
“We are extremely excited by the expansion opportunity that comes from combining Just Spices’ innovation and brand power with the Kraft Heinz team and the scale and knowledge of international markets they bring to the table,” said Florian Falk, Just Spices Chief Executive Officer and one of the company’s three founders.
Launched in 2014, Just Spices is an innovative start-up and a trailblazer in the high-growth taste elevation category with annual sales of approximately €60 million (~$68 million). Its 170-plus product portfolio includes spice blends, salad dressings, easy-to-prepare “In Minutes” blends, and organic offerings for diverse meal occasions ranging from breakfast and light snacks to salads and baking, with a broad range of savory, sweet, classic, and exotic flavors.
Just Spices’ growing business sells approximately 70 percent of its ready-made and one-step spice blends directly to consumers, with its remaining sales through major grocery retailers both in-store and online in Germany, Spain, Austria, and Switzerland.
With this new portfolio and growth strategy blooming, keep an eye on the specialty, deli, and dairy industry as Deli Market News reports.