PITTSBURGH – The Kraft Heinz Co. is acquiring an 85% stake in Just Spices GmbH, Dusseldorf, Germany. Terms of the acquisition were not disclosed.
Just Spices is a manufacturer of spices, spice blends, salad dressings and meal kits. Approximately 70% of the company’s sales are direct-to-consumer. Just Spices, which was founded in 2014, has annual sales of approximately €60 million ($68 million).
“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,” said Rafael Oliveria, International Zone president for Kraft Heinz. “We also see tremendous potential to strengthen and enhance our own direct-to-consumer operations and go-to-market expansion.”
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.
“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,” said Florian Falk, chief executive officer and a founder of Just Spices. “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.”
The transaction is expected to close during the first quarter of 2022, according to Kraft Heinz.
This is Kraft Heinz’s second international acquisition this fall. In September, the company agreed to acquire Companhia Hemmer Indústria e Comércio, a Brazilian business focused on condiments and sauces. Based in Blumenau, Santa Catarina, Hemmer offers condiments, olive oil, beverages, canned foods and more.