Kraft Heinz has announced that it has completed the acquisition of an 85% stake in Germany-based Just Spices GmbH.
The three founders of Just Spices have retained the remaining 15% ownership stake and will stay with the company to focus on driving the business and its international growth.
“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.
Launched in 2014, Just Spices is a start-up generating annual sales of approximately €60 million.
Its portfolio includes more than 170 products, comprising spice blends, salad dressings, easy-to-prepare ‘In Minutes’ blends, and organic offerings for diverse meal occasions.
The items are suitable for breakfast, light snacks, salads, and baking and are available in a broad range of savoury, sweet, classic, and exotic flavours.
'Taste Elevation Market'
Rafael Oliveira, EVP and president, international markets at Kraft Heinz, said, “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 direct-to-consumer operations and go-to-market expansion.”
Just Spices sells approximately 70% of its ready-made and one-step spice blends directly to consumers, and the remaining via major grocery retailers, both in-store and online, in Germany, Spain, Austria, and Switzerland.
In October of last year, Kraft Heinz completed the acquisition of Assan Foods from privately held Turkish conglomerate Kibar Holding.