Kraft Heinz, the US-based food multinational, has announced the acquisition of sauces and dressings firm Primal Kitchen for $200 million.
Primal Kitchen is described as a “better-for-you” brand primarily focused on condiments and sauces including mayonnaise, salad dressings and avocado oil, but with growing product lines in snacks and other categories. The brand is claimed to hold leading positions in both e-commerce and natural channels and is expected to generate approximately $50 million in net sales this year.
Commenting on the deal, Paulo Basilio, US zone president for Kraft Heinz, said: “The proposed partnership with Primal Kitchen is consistent with Kraft Heinz’s vision to be the best food company, growing a better world. The Primal Kitchen team has built an amazing portfolio of the world’s best-tasting, health-enhancing, real-food pantry staples. Primal Kitchen is an authentic, premium and growing brand that fits perfectly with our core Condiments & Sauces categories, and we are excited to partner with the Company’s strong existing team to drive growth across multiple categories going forward”.
The deal is expected to conclude in early 2019, subject to customary closing conditions.
Source: Kraft Heinz