Kraft Heinz Co. recently reached an agreement to acquire an 85 percent stake in the seven-year-old Germany-based Just Spices GmbH. Just Spices’ three founders will hold the remaining 15 percent and will continue leading the company.
“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, Kraft Heinz international zone president, 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.”
Headquartered in Dusseldorf, Just Spices offers spice blends, pure spices, salad dressings and quick-fix meal kits. The company employs more than 150 workers and has annual sales of approximately $67.7 million. Approximately 70 percent of spice blends are sold directly to consumers. The rest are sold to grocery retailers.
Just Spices’ products are geared toward Millennial and Gen Z consumers.
The deal is subject to customary closing conditions and is expected to close during the first quarter of 2022.