Kraft Heinz Completes Acquisition of Majority Stake in Just Spices, a Technology-Enabled Direct-to-Consumer Business
19 Janeiro 2022 - 7:00AM
Business Wire
Deal to Further Accelerate Kraft Heinz’s
International Growth Strategy Focused on Taste Elevation
The Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz”) announced
today that it has completed its acquisition of an 85% stake in
Germany-based Just Spices GmbH (“Just Spices”). The remaining 15%
ownership stake has been retained by Just Spices’ three founders,
who will continue on with the company and focus on driving the
business and its international growth. The proposed deal was first
announced on Dec. 10, 2021.
Launched in 2014, Just Spices is an innovative start-up,
trailblazing the high-growth taste elevation category with annual
sales of approximately €60 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% 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.
“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, EVP & 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.”
“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
CEO and one of the company’s three founders.
ABOUT THE KRAFT HEINZ COMPANY
We are driving transformation at The Kraft Heinz Company
(Nasdaq: KHC), inspired by our Purpose, Let's Make Life Delicious.
Consumers are at the center of everything we do. With 2020 net
sales of approximately $26 billion, we are committed to growing our
iconic and emerging food and beverage brands on a global scale. We
leverage our scale and agility to unleash the full power of Kraft
Heinz across a portfolio of six consumer-driven product platforms.
As global citizens, we're dedicated to making a sustainable,
ethical impact while helping feed the world in healthy, responsible
ways. Learn more about our journey by visiting
www.kraftheinzcompany.com or following us on LinkedIn and
Twitter.
ABOUT JUST SPICES
Just Spices was founded in Dusseldorf by Florian Falk, Ole
Strohschnieder and Bela Seebach in 2014. It supplies numerous spice
blends and pure spices, quick-fix meal kits through its own
e-retail offering, third-party online marketplaces and an
increasing presence in traditional offline food retail sectors.
Just Spices inspires a growing consumer base to refine their own
dishes and become creative in the kitchen. In 2018 the spice
manufacturer also launched the Just Spices IN MINUTES “fix” meal
kits category and in 2020 they launched their salad dressing range
online and in retail trade. With numerous “fix” meal preparations,
the company has been setting new standards for the fast and easy
preparation of modern dishes in everyday life. The company now
inspires more than 1.6 million followers on its social media
channels like Instagram, TikTok, and Facebook. On TikTok, Just
Spices regularly achieves several million views on its videos. With
more than 150 employees, Just Spices continues to make good on its
vision of attracting more people to cook better, healthier meals.
Above all, Just Spices means passion, high-quality products with no
additives. But the most important principle is to make delicious
food even more delicious, getting as many people as possible to
cook with joy and pride. Spice up your life at justspices.com,
follow us @justspices on Instagram, TikTok and Twitter, and become
a fan on Facebook.
Forward-Looking Statements
This press release contains a number of forward-looking
statements. Words such as “will,” “accelerate,” “strengthen,”
“leverage,” “drive,” “enhance,” “bring,” “see,” “focus,”
“continue,” “grow,” and variations of such words and similar future
or conditional expressions are intended to identify forward-looking
statements. These statements include, but are not limited to,
expected benefits of the acquisition, impacts of the acquisition on
Kraft Heinz’s business, financial results, opportunities, and
future plans, and other statements that are not historical facts,
each of which is based on Kraft Heinz’s current beliefs,
expectations, estimates, and projections. These forward-looking
statements are subject to a number of risks and uncertainties, many
of which are difficult to predict and beyond Kraft Heinz’s control,
which could cause actual results to differ materially from those
indicated in the forward-looking statements. Those factors include,
but are not limited to, Kraft Heinz’s ability to achieve intended
benefits of the acquisition, the expected costs of the transaction,
the success of business transitions, and the risk factors set forth
in Kraft Heinz’s filings with the Securities and Exchange
Commission, including Kraft Heinz’s most recently filed Annual
Report on Form 10-K and subsequent reports on Forms 10-Q and 8-K.
Kraft Heinz disclaims and does not undertake any obligation to
update, revise, or withdraw any forward-looking statement in this
press release, except as required by applicable law or
regulation.
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version on businesswire.com: https://www.businesswire.com/news/home/20220118005915/en/
Alex Abraham (Corporate media) alex.abraham@kraftheinz.com Nigel
Dickie (EMEA media) nigel.dickie@kraftheinz.com Christopher
Jakubik, CFA (Investors) ir@kraftheinz.com
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