USA – Kraft Heinz has announced that it has agreed to acquire the US based condiments, sauces and dressings firm, Primal Nutrition, LLC for approximately US$200 million.
Primal Kitchen will join Kraft Heinz under Springboard, which is Kraft Heinz’s dynamic platform created to partner with founders and brands that will disrupt the food industry.
For Kraft Heinz, the deal is vital in expanding its product portfolio as it strengthens muscle in nutrition and health category.
As part of the transaction, Primal Kitchen will leverage Kraft Heinz’s assets and infrastructure, while still operating as an autonomous company.
Primal Kitchen will continue to be led by its current leadership team with headquarters remaining in Oxnard, California.
“The proposed partnership with Primal Kitchen is consistent with Kraft Heinz’s vision to be the best food company, growing a better world.
The Primal Kitchen team has built an amazing portfolio of the world’s best-tasting, health-enhancing, real-food pantry staples,” said Paulo Basilio, U.S. Zone President for Kraft Heinz.
“Primal Kitchen is an authentic, premium and growing brand that fits perfectly with our core Condiments & Sauces categories, and we are excited to partner with the Company’s strong existing team to drive growth across multiple categories going forward.”
Mark Sisson, Co-Founder of Primal Kitchen said, “My mission has always been to change the way the world eats. With that goal in mind, Primal Kitchen launched in 2015 to offer health-conscious consumers the best possible choices in Condiments, Sauces, Dressings and Healthy Snacks.
While our growth to date has exceeded all industry standards and expectations, our partnership with an industry leader like Kraft Heinz now offers an unrivalled opportunity to reach millions more of the consumers who have been seeking products like ours for years.
Based on the significant time I’ve spent with the Kraft Heinz team, we share a common vision regarding the future of food and the importance of consumer choices.
I look forward to working with them to grow this amazing brand.”
Kraft Heinz seeks to partner with natural and organic, specialty and craft, health and performance and experiential brands.
The company recently offloaded Canadian natural cheese business to Parmalat for US$1.2 billion and sold its Indian business to Cadila Healthcare for US$628 million.
