Kraft Heinz Announces Agreement to Acquire Majority Stake in Just Spices – a Technology-Enabled Direct-to-Consumer Business
Deal Further Accelerates Kraft Heinz’s International Growth Strategy Focused on Taste Elevation
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Launched in 2014, Just Spices is an innovative start-up, trailblazing the high-growth taste elevation category with annual sales of approximately €60 million. Its 170-plus product portfolio includes spice blends, salad dressings, and easy-to-prepare “In Minutes” blends for diverse meal occasions ranging from breakfast and light snacks to salads and baking, with a broad range of savory, sweet, classic and exotic flavors. Just Spices’ rapidly growing spice revolution business sells approximately 70% of its ready-made and one-step spice blends directly to consumers, with its remaining sales through major grocery retailers both in-store and online in
Just Spices’ data-driven product innovation has successfully been geared towards the needs of today’s Gen Y and Gen Z consumer, with approximately 1.6 million followers across the company’s social media platforms. Its advanced analytics knowledge has enabled Just Spices to create and identify early consumer trend signals, foster product innovation, understand customer sentiment, and optimize consumer targeting.
“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
“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. We are extremely excited by the potential for expansion that comes from combining Just Spices’ innovation and brand power with
The deal is subject to customary closing conditions, including merger control approval, and is expected to be completed in the first quarter of 2022.
We are driving transformation at
ABOUT JUST SPICES
Just Spices was founded in
This press release contains a number of forward-looking statements. Words such as “will,” “accelerate,” “strengthen,” “leverage,” “drive,” “enhance,” “bring,” “see,” “anticipate,” and variations of such words and similar future or conditional expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements about the stock and assets included in the proposed purchase, expected benefits of the proposed purchase, impacts of the proposed purchase on Kraft Heinz’s business, financial results, opportunities, and future plans, that the purchase is subject to customary closing conditions including regulatory clearances, the timing of closing, and other statements that are not historical facts, each of which is based on Kraft Heinz’s current beliefs, expectations, estimates, and projections. These forward-looking statements are subject to a number of risks and uncertainties, many of which are difficult to predict and beyond Kraft Heinz’s control, which could cause actual results to differ materially from those indicated in the forward-looking statements. Those factors include, but are not limited to, the timing of or failure to obtain necessary regulatory approvals or to satisfy any of the other conditions to the purchase, Kraft Heinz’s ability to achieve intended benefits of the purchase, the expected costs of the transaction, the success of business transitions, and the risk factors set forth in Kraft Heinz’s filings with the
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