The Kraft Heinz Company has reached an agreement to acquire an 85% stake in German start-up Just Spices, while the remaining 15% stake will continue to be owned by Just Spices’ founders.
Founded in 2014, Just Spices features over 170 product portfolios, including spice blends, salad dressings and “easy-to-prepare” blends for a range of meal occasions. The acquisition will further accelerate Kraft Heinz’s international growth strategy.
Kraft Heinz’s international zone president, Rafael Oliveira, said: “This is a great opportunity to further accelerate our growth agenda by strengthening our ability to anticipate trends in consumer tastes and preferences, as well as our speed to innovate”.
Kraft Heinz To Acquire Majority Stake In Just Spices
He continued: “We will leverage our scale and agility to accelerate Just Spices’ business in the fast-growing taste elevation market beyond its current German base and its recent market entries in Spain, Austria and Switzerland. We also see tremendous potential to strengthen and enhance our own direct-to-consumer operations and go-to-market expansion.”
The transaction, which is subject to customary closing conditions, is expected to be completed in early 2022.
