GERMANY — American multinational food and beverage company, Kraft Heinz Co., has completed its acquisition of an 85% stake in Germany-based spice maker Just Spices GmbH.
Just Spices is a manufacturer of spices, spice blends, salad dressings, and meal kits and has a portfolio that includes more than 170 offerings.
The company 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.
Reports from Kraft Heinz show that 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.
“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.”
Just Spices is one of the acquisitions that Kraft Heinz has made in the recent past. Other deals include an investment in BR Spices, a Brazil-based spices company, and the acquisition of Assan Foods, a Turkey-based sauces company.
The company also intends to acquire a majority stake in Companhia Hemmer Indústria e Comércio, a Brazilian business focused on condiments and sauces.
Continental Grain secures stake in Agroberries
Meanwhile, Chile-based berry producer Agroberries has secured an investment from Continental Grain, whose portfolio of investments also includes JAB Holding, Seaboard Corp., and C.P. Group.
Agroberries commercializes more than 50,000 tons of berries per year to a customer base primarily in North America and Europe.
The company operates farms in Argentina, Chile, Mexico, Peru, and the United States. The company’s US operations include blueberry farms in Oregon.
Continental Grain said its investment will be used to allow Agroberries to expand its production assets and global distribution capabilities as well as to accelerate the roll-out of proprietary varietals.
The US-based company further noted that it will use its international network, M&A resources, and operational expertise to support Agroberries’ strategic development initiatives.
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