Deal Further Accelerates Kraft Heinz’s
International Growth Strategy Focused on Taste Elevation
The Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz”) announced
today that it has reached an agreement to acquire an 85% stake in
Germany-based Just Spices GmbH (“Just Spices”). The remaining 15%
ownership stake will be retained by Just Spices’ three founders,
who will continue on with the company and focus on driving the
business and its international growth.
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the full release here:
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The Kraft Heinz Company announced today
that it has reached an agreement to acquire an 85% stake in
Germany-based Just Spices GmbH. The remaining 15% ownership stake
will be retained by Just Spices’ three founders, who will continue
on with the company and focus on driving the business and its
international growth. (Photo: JUST SPICES)
Launched in 2014, Just Spices is an innovative start-up,
trailblazing the high-growth taste elevation category with annual
sales of approximately €60 million. Its 170-plus 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. Just Spices’ rapidly
growing spice revolution business sells approximately 70% of its
ready-made and one-step spice blends directly to consumers, with
its remaining sales through major grocery retailers both in-store
and online in Germany, Spain, Austria, and Switzerland.
Just Spices’ data-driven product innovation has successfully
been geared towards the needs of today’s Gen Y and Gen Z consumer,
with approximately 1.6 million followers across the company’s
social media platforms. Its advanced analytics knowledge has
enabled Just Spices to create and identify early consumer trend
signals, foster product innovation, understand customer sentiment,
and optimize consumer targeting.
“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,”
said Rafael Oliveira, International Zone President at Kraft Heinz.
“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.”
“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.
The deal is subject to customary closing conditions, including
merger control approval, and is expected to be completed in the
first quarter of 2022.
ABOUT THE KRAFT HEINZ COMPANY
We are driving transformation at The Kraft Heinz Company
(Nasdaq: KHC), inspired by our Purpose, Let's Make Life Delicious.
Consumers are at the center of everything we do. With 2020 net
sales of approximately $26 billion, we are committed to growing our
iconic and emerging food and beverage brands on a global scale. We
leverage our scale and agility to unleash the full power of Kraft
Heinz across a portfolio of six consumer-driven product platforms.
As global citizens, we're dedicated to making a sustainable,
ethical impact while helping feed the world in healthy, responsible
ways. Learn more about our journey by visiting
www.kraftheinzcompany.com or following us on LinkedIn and
Twitter.
ABOUT JUST SPICES
Just Spices was founded in Dusseldorf by Florian Falk, Ole
Strohschnieder and Bela Seebach in 2014. It supplies numerous spice
blends and pure spices, quick-fix meal kits through its own
e-retail offering, third-party online marketplaces and an
increasing presence in traditional offline food retail sectors.
Just Spices inspires a growing consumer base to refine their own
dishes and become creative in the kitchen. In 2018 the spice
manufacturer also launched the Just Spices IN MINUTES “fix” meal
kits category and in 2020 they launched their salad dressing range
online and in retail trade. With numerous “fix” meal preparations,
the company has been setting new standards for the fast and easy
preparation of modern dishes in everyday life. The company now
inspires more than 1.6 million followers on its social media
channels like Instagram, TikTok, and Facebook. On TikTok, Just
Spices regularly achieves several million views on its videos. With
more than 150 employees, Just Spices continues to make good on its
vision of attracting more people to cook better, healthier meals.
Above all, Just Spices means passion, high-quality products with no
additives. But the most important principle is to make delicious
food even more delicious, getting as many people as possible to
cook with joy and pride. Spice up your life at justspices.com,
follow us @justspices on Instagram, TikTok and Twitter, and become
a fan on Facebook.
Forward-Looking Statements
This press release contains a number of forward-looking
statements. Words such as “will,” “accelerate,” “strengthen,”
“leverage,” “drive,” “enhance,” “bring,” “see,” “anticipate,” and
variations of such words and similar future or conditional
expressions are intended to identify forward-looking statements.
These statements include, but are not limited to, statements about
the stock and assets included in the proposed purchase, expected
benefits of the proposed purchase, impacts of the proposed purchase
on Kraft Heinz’s business, financial results, opportunities, and
future plans, that the purchase is subject to customary closing
conditions including regulatory clearances, the timing of closing,
and other statements that are not historical facts, each of which
is based on Kraft Heinz’s current beliefs, expectations, estimates,
and projections. These forward-looking statements are subject to a
number of risks and uncertainties, many of which are difficult to
predict and beyond Kraft Heinz’s control, which could cause actual
results to differ materially from those indicated in the
forward-looking statements. Those factors include, but are not
limited to, the timing of or failure to obtain necessary regulatory
approvals or to satisfy any of the other conditions to the
purchase, Kraft Heinz’s ability to achieve intended benefits of the
purchase, the expected costs of the transaction, the success of
business transitions, and the risk factors set forth in Kraft
Heinz’s filings with the Securities and Exchange Commission,
including Kraft Heinz’s most recently filed Annual Report on Form
10-K and subsequent reports on Forms 10-Q and 8-K. Kraft Heinz
disclaims and does not undertake any obligation to update, revise,
or withdraw any forward-looking statement in this press release,
except as required by applicable law or regulation.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211210005079/en/
Alex Abraham (media) Alex.Abraham@kraftheinz.com
Christopher Jakubik, CFA (investors) ir@kraftheinz.com
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