Kraft Heinz to acquire majority stake in Just Spices
Kraft Heinz’s portfolio is expanding due to its latest acquisition.
The company announced that it has reached an agreement to acquire an 85% stake in Germany-based Just Spices. The remaining 15% ownership stake will be retained by the brand’s three founders, who will continue on with the company.
Launched in 2014, Just Spices’ product portfolio includes spice blends, salad dressings, and easy-to-prepare “In Minutes” blends 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.
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“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,” Rafael Oliveira, international zone president at Kraft Heinz said. “We will leverage our scale and agility to accelerate Just Spices’ business in the fast-growing taste elevation market beyond its current German base and its recent market entries in Spain, Austria, and Switzerland. We also see tremendous potential to strengthen and enhance our own direct-to-consumer operations and go-to-market expansion.”
Just Spice currently sells 70% of its ready-made and one-step spice blends directly to consumers, with remaining sales coming from major grocery retailers both in-store and online in Germany, Spain, Austria and Switzerland.
“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.
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The deal, which is subject to customary closing conditions and merger control approval, is expected to be completed in the first quarter of 2022.