CHICAGO — The Kraft Heinz Co. completed its acquisition of an 85% stake in Dusseldorf, Germany-based Just Spices GmbH, a manufacturer of spices, spice blends, salad dressings and meal kits. Terms of the transaction, which was first announced in December, were not disclosed.
Launched in 2014, Just Spices’ portfolio includes more than 170 offerings for meal occasions ranging from breakfast and light snacks to salads and baking, with a broad range of savory, sweet, classic and exotic flavors. It sells approximately 70% of its ready-made and one-step spice blends directly to consumers, with its remaining sales coming through grocery retailers both in-store and online in Germany, Spain, Austria and Switzerland. The company has annual sales of approximately €60 million ($68 million).
Florian Falk, Ole Strohschnieder and Bela Seebach, co-founders of Just Spices, retained the remaining 15% ownership in the startup. The three co-founders will continue on with the company and focus on driving the business and its international growth.
Just Spices was one of several acquisitions announced by Kraft Heinz last year. The company also intends to acquire a majority stake in Companhia Hemmer Indústria e Comércio, a Brazilian business focused on condiments and sauces. Other recent deals include an investment in BR Spices, a Brazil-based spices company, and the acquisition of Assan Foods, a Turkey-based sauces company.“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,” said Rafael Oliveira, executive vice president and president of international markets at Kraft Heinz. “We also see tremendous potential to further strengthen and enhance Kraft Heinz’s own direct-to-consumer operations and go-to-market expansion.”