Multinational food company The Kraft Heinz Company has announced the acquisition of an 85% stake in German-based company Just Spices for an undisclosed sum.
According to sources, the remaining 15% ownership stake in Just Spices will be retained by its three founders who will remain with the company once the acquisition is complete.
Founded in 2014, Just Spices is a manufacturer of spices blends and salad dressings with a portfolio of over 170 products and sales in Germany, Spain, Austria, and Switzerland.
“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,” said Rafael Oliveira, International Zone President at Kraft Heinz.
“In the last few years, Just Spices has been further strengthening its successful omni-channel approach, with some of the best-in-class direct-to-consumer analytics in the food space. We are extremely excited by the potential for expansion that comes from combining Just Spices’ innovation and brand power with the Kraft Heinz team and the scale they bring to the table,” said Florian Falk, Just Spices CEO and one of the company’s three founders.
Source: Business Wire