Kraft Heinz To Acquire Primal Kitchen For $200m
Kraft Heinz has announced that it has signed an agreement to acquire Primal Nutrition, LLC for around $200 million (€175.9 million).
The transaction is subject to customary closing conditions and is expected to be completed in early 2019.
Primal Kitchen, founded by Mark Sisson and Morgan Buehler, aims to change the way the world eats through its condiments, sauces, and dressings including mayonnaise, salad dressings and avocado oil, as well as healthy snacks and other food items.
The US zone president for Kraft Heinz, Paulo Basilio, 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.”
Mark Sisson, Co-Founder of Primal Kitchen said, "While our growth to date has exceeded all industry standards and expectations, our partnership with an industry leader like Kraft Heinz now offers an unrivalled opportunity to reach millions more of the consumers who have been seeking products like ours for years."
Primal Kitchen will continue to operate as an autonomous company from its headquarters in Oxnard in California, under its existing leadership team.
© 2018 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.