PITTSBURGH & CHICAGO--(BUSINESS WIRE)--Jan. 4, 2019--
The Kraft Heinz Company (NASDAQ: KHC) (“Kraft Heinz”) today announced it
has completed the acquisition of Primal Nutrition, LLC, makers of Primal
Kitchen branded products.
This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20190104005298/en/
Primal Kitchen Products (Photo: Business Wire)
Primal Kitchen is a young, vibrant, better-for-you brand primarily
focused on Condiments, Sauces and Dressings including Mayonnaise, Salad
Dressings and Avocado Oil, with growing product lines in Healthy Snacks
and other categories.
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. Leveraging Kraft Heinz’s assets and
infrastructure, Primal Kitchen will operate as an autonomous company and
continue to be led by its current leadership team. Its headquarters will
remain in Oxnard, California.
“Primal Kitchen is an authentic, premium and growing brand that
complements our core Condiments & Sauces categories,” said Paulo
Basilio, U.S. Zone President for Kraft Heinz. “We are excited to partner
with the Company’s strong team to drive growth across multiple
categories and reach more consumers looking for these amazing products.”
Mark Sisson, Co-Founder of Primal Kitchen said, “Kraft Heinz recognizes
the value of our Primal Kitchen mission and the consumer demand for it.
This philosophy will stay with us as we leverage the resources of this
new partnership to reach millions more of the consumers who have been
seeking products like ours for years.”
ABOUT THE KRAFT HEINZ COMPANY
The Kraft Heinz Company (NASDAQ: KHC) is one of the largest food and
beverage companies in the world. A globally trusted producer of
delicious foods, The Kraft Heinz Company provides high quality, great
taste and nutrition for all eating occasions, whether at home, in
restaurants or on the go. The Company’s iconic brands include Kraft,
Heinz, ABC, Capri Sun, Classico, Jell-O,
Kool-Aid, Lunchables, MaxwellHouse, Ore-Ida,
OscarMayer, Philadelphia, Planters, Plasmon,
Quero,Smart Ones and Velveeta. The Kraft Heinz
Company is dedicated to the sustainable health of our people, our planet
and our Company. For more information, visit www.kraftheinzcompany.com.
About Mark Sisson & Primal Kitchen®
Mark Sisson, New York Timesbestselling author, media
personality, ex-endurance athlete (5th place USA Marathon Championship,
4th place Hawaii Ironman finish) founded Primal Kitchen in 2015. He has
been educating the world on nutrition and the benefits of high-quality
fats and protein for the last decade via his blog, MarksDailyApple.com.
Mark set out to create the world’s best-tasting, real-food pantry
staples. Primal Kitchen delivers on its promise to create
uncompromisingly delicious products that are free of dairy, gluten,
grains, and soy, and emphasize beneficial fats and high-quality
proteins. Primal Kitchen is the maker of the number one selling
Condiment, Mayo made with Avocado Oil, and the number one selling Salad
Dressing, Ranch Dressing, in natural grocery. As Mark would say, Eat
Like Your Life Depends on It, because it does. Learn more at primalkitchen.com.
Forward-Looking Statements
This press release contains a number of forward-looking statements.
Words such as “expect,” “invest,” “grow,” “drive,” “continue,”
“partner,” “leverage,” “reach,” “complement,” “focus,” “will,” and
variations of such words and similar future or conditional expressions
are intended to identify forward-looking statements. Examples of
forward-looking statements include, but are not limited to, statements
regarding Kraft Heinz’s plans, expected benefits of the transaction,
investment and growth plans, and impact of the acquisition. These
forward-looking statements are not guarantees of future performance and
are subject to a number of risks and uncertainties, many of which are
difficult to predict and beyond Kraft Heinz’s control.
Important factors that may affect Kraft Heinz’s business and operations
and that may cause actual results to differ materially from those in the
forward-looking statements include, but are not limited to, operating in
a highly competitive industry; changes in the retail landscape or the
loss of key retail customers; Kraft Heinz’s ability to maintain, extend
and expand its reputation and brand image; the impacts of Kraft Heinz’s
international operations; Kraft Heinz’s ability to leverage its brand
value to compete against retailer brands and other economy brands; Kraft
Heinz’s ability to predict, identify and interpret changes in consumer
preferences and demand; Kraft Heinz’s ability to drive revenue growth in
its key product categories, increase its market share or add products;
an impairment of the carrying value of goodwill or other
indefinite-lived intangible assets; volatility in commodity, energy and
other input costs; changes in the Kraft Heinz’s management team or other
key personnel; Kraft Heinz’s ability to realize the anticipated benefits
from its cost savings initiatives; changes in relationships with
significant customers and suppliers; the execution of Kraft Heinz’s
international expansion strategy; tax law changes or interpretations;
legal claims or other regulatory enforcement actions; product recalls or
product liability claims; unanticipated business disruptions; Kraft
Heinz’s ability to complete or realize the benefits from potential and
completed acquisitions, alliances, divestitures or joint ventures;
economic and political conditions in the United States and in various
other nations in which we operate; volatility of capital markets and
other macroeconomic factors; increased pension, labor and people-related
expenses; volatility in the market value of all or a portion of the
derivatives we use; exchange rate fluctuations; risks associated with
information technology and systems, including service interruptions,
misappropriation of data or breaches of security; Kraft Heinz’s ability
to protect intellectual property rights; impacts of natural events in
the locations in which we or our customers, suppliers or regulators
operate; Kraft Heinz’s indebtedness and ability to pay such
indebtedness; Kraft Heinz’s ownership structure; the impact of future
sales of Kraft Heinz’s common stock in the public markets; Kraft Heinz’s
ability to continue to pay a regular dividend; restatements of Kraft
Heinz’s consolidated financial statements; and other factors. For
additional information on these and other factors that could affect
Kraft Heinz’s forward-looking statements, see Kraft Heinz’s risk
factors, as they may be amended from time to time, set forth in its
filings with the Securities and Exchange Commission. Kraft Heinz
disclaims and does not undertake any obligation to update or revise any
forward-looking statement in this press release, except as required by
applicable law or regulation.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190104005298/en/
Source: The Kraft Heinz Company
Lynne Galia
The Kraft Heinz Company
lynne.galia@kraftheinz.com
Ana Goettsch
Primal Kitchen
ana@primalkitchen.com