Kraft Heinz is acquiring an 85 per cent stake in Germany-based DTC brand Just Spices, with the remaining stake to be retained by the brand’s three founders.
The acquisition is expected to be completed in the first quarter of next year.
“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.
The company has annual sales of approximately €60 million (US$67.6 million). About 70 per cent of its ready-made and one-step spice blends are sold directly to consumers, while the remaining sales are through major grocery retailers both in-store and online in Germany, Spain, Austria, and Switzerland.
“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,” said Florian Falk, CEO and co-founders of Just Spices.
Launched in 2014, Just Spices features a portfolio of 170 products, ranging from spice blends, salad dressings, easy-to-prepare “In Minutes” blends for diverse meal occasions.