The Kraft Heinz Co. recently reached an agreement to purchase Assan Foods from Kibar Holding, a privately held Turkish conglomerate, for approximately $100 million.
“This is a great opportunity to accelerate our international growth strategy centered on Taste Elevation,” Rafael Oliveira, Kraft Heinz, international zone president, said. “We believe Assan Foods is a high-performance organization that brings best-in-class local innovation and production of sauces and tomato products, as well as a significant distribution network in the fast-growing foodservice channel, enabling us to further build our scale and agility by expanding the Heinz brand in Turkey, as well as our International Taste Elevation platform more broadly.”
Headquartered in Istanbul, Assan Foods is one of the top producers in the region, manufacturing pasta and meat sauces, mayonnaise, ketchup, tomato paste, and other products. Its sauces-focused business is growing rapidly.
The company employs approximately 400 and exports to approximately 50 countries on four continents.
Assan Foods has been a certified production partner for Kraft Heinz since 2019. and offers Kraft Heinz the opportunity to build its retail and foodservice business across Europe, the Middle East, and Africa.
The deal is subject to customary closing conditions and is expected to close during the second half of the year.